Shares of Mercer International Inc. (NASDAQ:MERC – Get Rating) (TSE:MRI.U) have earned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.75.
A number of equities analysts have recently weighed in on the company. Raymond James increased their target price on Mercer International from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Monday, July 25th. Credit Suisse Group increased their price target on Mercer International from $19.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, July 26th. TD Securities raised their target price on Mercer International from $16.50 to $18.00 and gave the stock a "hold" rating in a research report on Tuesday, August 2nd. StockNews.com raised Mercer International from a "hold" rating to a "buy" rating in a research report on Saturday, September 10th. Finally, Royal Bank of Canada raised their target price on Mercer International from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 2nd.
Get Mercer International alerts:Mercer International Price Performance
NASDAQ:MERC opened at $13.45 on Monday. The company has a quick ratio of 2.99, a current ratio of 4.27 and a debt-to-equity ratio of 1.66. The stock's 50 day moving average price is $15.43 and its two-hundred day moving average price is $14.85. The firm has a market capitalization of $889.95 million, a price-to-earnings ratio of 2.94 and a beta of 1.43. Mercer International has a 12-month low of $9.51 and a 12-month high of $17.50.
Mercer International (NASDAQ:MERC – Get Rating) (TSE:MRI.U) last announced its earnings results on Thursday, July 28th. The basic materials company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.08. The company had revenue of $572.33 million for the quarter, compared to analyst estimates of $484.73 million. Mercer International had a return on equity of 42.77% and a net margin of 14.11%. The firm's quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, analysts anticipate that Mercer International will post 4.06 earnings per share for the current year.Mercer International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 28th will be paid a $0.075 dividend. The ex-dividend date is Tuesday, September 27th. This represents a $0.30 annualized dividend and a dividend yield of 2.23%. Mercer International's dividend payout ratio is presently 6.56%.
Insider Buying and Selling at Mercer International
In other Mercer International news, Director Rainer Rettig sold 12,000 shares of Mercer International stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $16.34, for a total transaction of $196,080.00. Following the completion of the transaction, the director now owns 10,893 shares in the company, valued at approximately $177,991.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Mercer International news, Director Rainer Rettig sold 12,000 shares of the business's stock in a transaction on Friday, August 26th. The shares were sold at an average price of $16.34, for a total transaction of $196,080.00. Following the sale, the director now owns 10,893 shares of the company's stock, valued at approximately $177,991.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith Purchase sold 10,000 shares of the business's stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $170,100.00. Following the transaction, the director now owns 67,393 shares of the company's stock, valued at $1,146,354.93. The disclosure for this sale can be found here. Company insiders own 4.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its position in Mercer International by 16.7% in the second quarter. Mutual of America Capital Management LLC now owns 6,775 shares of the basic materials company's stock worth $89,000 after acquiring an additional 970 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Mercer International by 18.4% during the second quarter. Russell Investments Group Ltd. now owns 13,054 shares of the basic materials company's stock valued at $171,000 after buying an additional 2,031 shares during the period. Credit Suisse AG boosted its position in Mercer International by 9.1% during the second quarter. Credit Suisse AG now owns 33,034 shares of the basic materials company's stock valued at $434,000 after buying an additional 2,747 shares during the period. New York State Teachers Retirement System boosted its position in Mercer International by 18.3% during the second quarter. New York State Teachers Retirement System now owns 25,236 shares of the basic materials company's stock valued at $332,000 after buying an additional 3,900 shares during the period. Finally, Rhumbline Advisers boosted its position in Mercer International by 10.3% during the first quarter. Rhumbline Advisers now owns 65,407 shares of the basic materials company's stock valued at $912,000 after buying an additional 6,111 shares during the period. 73.66% of the stock is currently owned by hedge funds and other institutional investors.
Mercer International Company Profile
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Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) pulp in Europe, the United States, Asia, and internationally. The company operates through two segments, Pulp and Wood Products. It also generates and sells green energy produced from biomass cogeneration power plant to third party utilities.
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