Mercer International (NASDAQ:MERC) Share Price Passes Above 200-Day Moving Average of $8.95

Mercer International Inc. (NASDAQ:MERCGet Free Report) (TSE:MRI.U) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.95 and traded as high as $10.04. Mercer International shares last traded at $10.03, with a volume of 132,985 shares.

Analyst Ratings Changes

A number of brokerages have commented on MERC. Royal Bank of Canada raised their price target on shares of Mercer International from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Raymond James raised their price objective on shares of Mercer International from $7.50 to $8.50 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. StockNews.com raised shares of Mercer International to a “sell” rating in a report on Friday, March 15th. CIBC raised shares of Mercer International from a “sector underperform” rating to a “neutral” rating and raised their price target for the company from $8.00 to $9.00 in a report on Friday, January 12th. Finally, TD Securities lowered their price target on shares of Mercer International from $10.00 to $9.50 and set a “hold” rating for the company in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.17.

Read Our Latest Stock Report on Mercer International

Mercer International Stock Up 0.8 %

The business’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $8.95. The company has a current ratio of 3.82, a quick ratio of 2.37 and a debt-to-equity ratio of 2.53. The stock has a market cap of $667.25 million, a price-to-earnings ratio of -2.76 and a beta of 1.37.

Mercer International (NASDAQ:MERCGet Free Report) (TSE:MRI.U) last released its earnings results on Friday, February 16th. The basic materials company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.06). The business had revenue of $470.50 million for the quarter, compared to analyst estimates of $508.46 million. Mercer International had a negative return on equity of 29.17% and a negative net margin of 12.14%. Mercer International’s revenue was down 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. Equities analysts forecast that Mercer International Inc. will post -0.63 earnings per share for the current fiscal year.

Mercer International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, March 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.99%. Mercer International’s dividend payout ratio is -8.24%.

Hedge Funds Weigh In On Mercer International

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SNC boosted its position in shares of Mercer International by 29.1% during the second quarter. BNP Paribas Arbitrage SNC now owns 6,396 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 1,440 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Mercer International during the fourth quarter worth $99,000. Amalgamated Bank lifted its position in Mercer International by 19.6% in the 3rd quarter. Amalgamated Bank now owns 13,291 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 2,182 shares in the last quarter. Quantbot Technologies LP bought a new stake in Mercer International in the 1st quarter valued at $155,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Mercer International in the 3rd quarter valued at $173,000. 85.79% of the stock is owned by institutional investors.

About Mercer International

(Get Free Report)

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.

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