Martinrea International (MRE) Price Target Lowered to C$16.00 at TD Securities

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Martinrea International (TSE:MRE) had its target price trimmed by TD Securities from C$18.50 to C$16.00 in a report issued on Monday. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on MRE. Royal Bank of Canada upped their price target on shares of Martinrea International from C$23.00 to C$24.00 and gave the stock an outperform rating in a research report on Friday, August 10th. CIBC upped their price target on shares of Martinrea International from C$17.00 to C$20.00 in a research report on Thursday, September 13th.

Shares of MRE stock opened at C$10.95 on Monday. Martinrea International has a one year low of C$10.71 and a one year high of C$17.50.

Martinrea International (TSE:MRE) last issued its quarterly earnings results on Wednesday, August 8th. The company reported C$0.64 EPS for the quarter, topping the consensus estimate of C$0.63 by C$0.01. Martinrea International had a net margin of 3.68% and a return on equity of 13.91%. The firm had revenue of C$921.71 million during the quarter, compared to analyst estimates of C$947.75 million.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Sunday, September 30th were given a dividend of $0.045 per share. This is a positive change from Martinrea International’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.18 annualized dividend and a yield of 1.64%.

In related news, insider Peter Cirulis purchased 2,850 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was purchased at an average price of C$10.31 per share, with a total value of C$29,383.50.

About Martinrea International

Martinrea International Inc designs, engineers, 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. The company offers aluminum products, including engine blocks, oil pans, cam carriers, camshaft and transmission housings, sub frames, knuckles, control arms, longitudinal and cross members, shock towers, components for electric vehicles, fabrication and modules, and aluminum plates and coils.

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