Martinrea International Inc. (TSE:MRE) Expected to Post Q1 2023 Earnings of $0.58 Per Share

Martinrea International Inc. (TSE:MRE – Get Rating) – Stock analysts at Cormark reduced their Q1 2023 earnings per share (EPS) estimates for Martinrea International in a research report issued on Friday, March 3rd. Cormark analyst D. Ocampo now forecasts that the company will earn $0.58 per share for the quarter, down from their previous forecast of $0.71. The consensus estimate for Martinrea International’s current full-year earnings is $2.51 per share. Cormark also issued estimates for Martinrea International’s Q2 2023 earnings at $0.70 EPS, Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.60 EPS, FY2023 earnings at $2.39 EPS, Q1 2024 earnings at $0.77 EPS, Q2 2024 earnings at $0.80 EPS, Q3 2024 earnings at $0.60 EPS, Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $2.85 EPS and FY2025 earnings at $3.07 EPS.

A number of other equities analysts have also recently issued reports on the stock. TD Securities increased their price objective on shares of Martinrea International from C$16.00 to C$21.00 and gave the stock an “action list buy” rating in a research report on Friday. Raymond James increased their price objective on shares of Martinrea International from C$16.50 to C$20.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets raised their price target on shares of Martinrea International from C$15.00 to C$18.00 in a research note on Friday. Scotiabank lifted their price objective on shares of Martinrea International from C$13.00 to C$16.00 in a research note on Wednesday, December 7th. Finally, CIBC raised their price target on shares of Martinrea International from C$15.00 to C$16.00 and gave the company a “neutral” rating in a report on Friday.

Martinrea International Stock Performance

TSE MRE opened at C$15.04 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 97.57. The company has a market capitalization of C$1.21 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.82 and a beta of 2.13. The stock has a fifty day simple moving average of C$12.65 and a 200 day simple moving average of C$11.18. Martinrea International has a twelve month low of C$7.43 and a twelve month high of C$15.37.

Insiders Place Their Bets

In other news, Director Robert Peter Edward Wildeboer acquired 8,500 shares of the firm’s stock in a transaction on Wednesday, December 7th. The shares were purchased at an average price of C$11.87 per share, for a total transaction of C$100,895.00. Following the completion of the transaction, the director now owns 548,500 shares of the company’s stock, valued at C$6,510,695. 13.53% of the stock is currently owned by insiders.

Martinrea International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Friday, March 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, March 30th. Martinrea International’s dividend payout ratio is presently 19.61%.

About Martinrea International

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Martinrea International Inc designs, develops, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. It offers engine blocks, transmissions, cases, housings, oil coolers, hoses, tube assemblies, oil fillers, tubes, indicators, oil pick-up screens and pipes, heater hose inlets and outlets, and electric motor housings; and front horizontal, rear suspension, and front vertical modules.