Scotiabank Weighs in on Linamar’s FY2024 Earnings (TSE:LNR)

Linamar Co. (TSE:LNR) – Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Linamar in a research note issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will post earnings per share of $9.51 for the year, down from their previous forecast of $9.80. Scotiabank currently has a “Sector Perform” rating and a $77.00 target price on the stock. The consensus estimate for Linamar’s current full-year earnings is $11.43 per share. Scotiabank also issued estimates for Linamar’s FY2025 earnings at $9.35 EPS.

A number of other brokerages have also recently commented on LNR. CIBC cut their price target on shares of Linamar from C$85.00 to C$84.00 in a research note on Thursday, November 14th. BMO Capital Markets reduced their price target on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. Finally, Raymond James cut their price objective on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th.

Linamar Price Performance

TSE:LNR opened at C$55.30 on Friday. The stock has a market capitalization of C$3.41 billion, a PE ratio of 5.64, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a 1-year low of C$54.74 and a 1-year high of C$73.84. The firm has a fifty day simple moving average of C$59.22 and a 200 day simple moving average of C$62.35. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32.

Linamar (TSE:LNR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The firm had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion.

Insider Buying and Selling at Linamar

In other news, Director Linda Hasenfratz bought 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were bought at an average price of C$60.01 per share, with a total value of C$3,000,500.00. Also, insider Linamar Corporation purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average cost of C$63.01 per share, with a total value of C$945,097.50. Insiders have purchased a total of 90,101 shares of company stock valued at $5,475,561 in the last three months. 33.49% of the stock is currently owned by company insiders.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.