Mercer International (MERC) Downgraded to Strong Sell at BidaskClub

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BidaskClub downgraded shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a sell rating to a strong sell rating in a research note released on Friday.

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Mercer International from a buy rating to a hold rating in a report on Friday, July 20th. Raymond James lifted their price target on shares of Mercer International from $19.50 to $22.50 and gave the company an outperform rating in a report on Tuesday. TD Securities raised shares of Mercer International from a hold rating to a buy rating and lifted their price target for the company from $15.00 to $20.00 in a report on Wednesday, June 20th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $22.00 price target on shares of Mercer International in a report on Thursday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Mercer International has a consensus rating of Hold and a consensus target price of $20.63.

Shares of Mercer International stock traded down $0.27 during midday trading on Friday, hitting $16.54. 302,397 shares of the company traded hands, compared to its average volume of 219,365. The firm has a market capitalization of $1.10 billion, a PE ratio of 10.44 and a beta of 1.66. The company has a current ratio of 3.51, a quick ratio of 2.51 and a debt-to-equity ratio of 1.37. Mercer International has a 12 month low of $12.05 and a 12 month high of $19.14.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.08). The company had revenue of $346.50 million for the quarter, compared to the consensus estimate of $357.65 million. Mercer International had a net margin of 7.75% and a return on equity of 19.39%. The firm’s revenue was down 5.8% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 26th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, September 25th.

In other Mercer International news, Director James Shepherd sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $17.75, for a total transaction of $85,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. United Services Automobile Association grew its holdings in Mercer International by 35.8% during the 2nd quarter. United Services Automobile Association now owns 16,180 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 4,266 shares during the last quarter. Portolan Capital Management LLC bought a new stake in Mercer International during the 2nd quarter worth approximately $5,686,000. Public Employees Retirement System of Ohio grew its holdings in Mercer International by 7.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 132,529 shares of the basic materials company’s stock worth $2,319,000 after acquiring an additional 9,039 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Mercer International by 3.8% during the 1st quarter. Russell Investments Group Ltd. now owns 348,776 shares of the basic materials company’s stock worth $4,335,000 after acquiring an additional 12,885 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in Mercer International during the 2nd quarter worth approximately $319,000. 74.73% of the stock is currently owned by hedge funds and other institutional investors.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.

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