Raymond James Has Negative Outlook for Linamar Q3 Earnings

Linamar Co. (TSE:LNR) – Raymond James cut their Q3 2024 EPS estimates for Linamar in a research note issued to investors on Thursday, November 7th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $2.15 for the quarter, down from their prior forecast of $2.39. The consensus estimate for Linamar’s current full-year earnings is $11.43 per share. Raymond James also issued estimates for Linamar’s Q4 2024 earnings at $2.09 EPS.

Several other research analysts have also commented on the company. Scotiabank lowered Linamar from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. TD Securities dropped their target price on Linamar from C$92.00 to C$89.00 and set a “buy” rating for the company in a research report on Monday, September 30th. BMO Capital Markets reduced their price target on shares of Linamar from C$90.00 to C$80.00 in a research report on Friday, August 9th. Finally, CIBC dropped their price target on shares of Linamar from C$88.00 to C$85.00 in a research note on Friday, November 8th.

Linamar Stock Performance

TSE:LNR opened at C$60.48 on Monday. The stock has a market capitalization of C$3.72 billion, a P/E ratio of 6.17, a PEG ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. Linamar has a fifty-two week low of C$54.95 and a fifty-two week high of C$73.84. The company has a 50 day moving average price of C$61.79 and a 200 day moving average price of C$65.04.

About Linamar

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.