Mercer International (NASDAQ:MERC) Issues Earnings Results

Mercer International (NASDAQ:MERC) (TSE:MRI.U) released its quarterly earnings results on Thursday. The basic materials company reported ($4.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($3.73), FiscalAI reports. Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. The firm had revenue of $449.50 million for the quarter, compared to the consensus estimate of $459.84 million.

Mercer International Price Performance

Shares of NASDAQ MERC traded down $0.03 during midday trading on Thursday, reaching $1.70. The company’s stock had a trading volume of 860,294 shares, compared to its average volume of 679,600. Mercer International has a fifty-two week low of $1.48 and a fifty-two week high of $8.28. The business’s 50 day moving average price is $2.13 and its two-hundred day moving average price is $2.48. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.68 and a current ratio of 3.01. The company has a market cap of $113.87 million, a P/E ratio of -0.66 and a beta of 0.72.

Analysts Set New Price Targets

Several equities analysts have commented on MERC shares. TD Securities cut Mercer International from a “hold” rating to a “sell” rating and upped their price target for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 29th. TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and increased their price objective for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada dropped their price objective on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.10.

Institutional Investors Weigh In On Mercer International

Several hedge funds and other institutional investors have recently made changes to their positions in MERC. Jump Financial LLC boosted its position 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 period. Gamco Investors INC. ET AL bought a new stake in Mercer International during the 2nd quarter valued at $244,000. Gabelli Funds LLC acquired a new position in shares of Mercer International during the second quarter valued at about $1,804,000. Millennium Management LLC increased its holdings in 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in 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 last quarter. 85.79% of the stock is owned by institutional investors.

Mercer International Company Profile

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.