Mercer International (NASDAQ:MERC) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Mercer International (NASDAQ:MERC) (TSE:MRI.U) issued its quarterly earnings data on Thursday. The basic materials company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.18), FiscalAI reports. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The company had revenue of $460.28 million during the quarter, compared to analyst estimates of $476.00 million.

Mercer International Stock Down 0.2%

MERC stock traded down $0.00 during midday trading on Thursday, hitting $0.68. The company’s stock had a trading volume of 264,903 shares, compared to its average volume of 585,333. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. Mercer International has a 52-week low of $0.53 and a 52-week high of $3.38. The firm has a market capitalization of $45.23 million, a P/E ratio of -0.09 and a beta of 0.53. The firm has a 50-day simple moving average of $0.74 and a 200-day simple moving average of $1.24.

Analyst Upgrades and Downgrades

MERC has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. TD reaffirmed a “sell” rating on shares of Mercer International in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce cut their price objective on Mercer International from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Royal Bank Of Canada cut their price objective on Mercer International from $1.00 to $0.75 and set a “sector perform” rating on the stock in a report on Friday, July 17th. Finally, Wall Street Zen lowered Mercer International from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and an average target price of $1.20.

Insider Buying and Selling at Mercer International

In related news, major shareholder Peter R. Kellogg acquired 51,441 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $0.92 per share, with a total value of $47,325.72. Following the completion of the transaction, the insider owned 1,385,672 shares of the company’s stock, valued at $1,274,818.24. The trade was a 3.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 1,383,743 shares of company stock worth $1,264,565 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after buying an additional 14,603 shares during the period. Millennium Management LLC raised its stake in Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares in the last quarter. Gabelli Funds LLC acquired a new stake in Mercer International in the second quarter valued at $1,804,000. Gamco Investors INC. ET AL purchased a new stake in Mercer International during the 2nd quarter worth about $244,000. Finally, Jump Financial LLC lifted its holdings in Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after buying an additional 214,008 shares during the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

About Mercer International

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.