Mercer International Inc. (NASDAQ:MERC) Given Average Rating of “Reduce” by Brokerages

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) has received a consensus rating of “Reduce” from the five brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $3.50.

Several analysts have recently issued reports on the company. TD Securities reduced their price objective on Mercer International from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, August 5th. Royal Bank Of Canada cut their price target on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Monday.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Iat Reinsurance Co. LTD. increased its position in shares of Mercer International by 1.3% in the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after purchasing an additional 220,000 shares during the last quarter. Millennium Management LLC lifted its position in shares of Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Mercer International during the second quarter worth $1,804,000. Jump Financial LLC grew its stake in shares of Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after purchasing an additional 214,008 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in Mercer International in the second quarter valued at $244,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Mercer International Trading Up 6.0%

Shares of MERC stock opened at $1.59 on Friday. Mercer International has a fifty-two week low of $1.48 and a fifty-two week high of $8.28. The company has a 50 day moving average price of $2.40 and a 200 day moving average price of $3.12. The stock has a market capitalization of $106.50 million, a P/E ratio of -0.98 and a beta of 0.94. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.73 and a current ratio of 3.10.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.08). The business had revenue of $458.07 million during the quarter, compared to analysts’ expectations of $482.70 million. Mercer International had a negative net margin of 5.60% and a negative return on equity of 23.88%. Equities research analysts predict that Mercer International will post -0.29 EPS for the current fiscal year.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.