FY2019 EPS Estimates for Martinrea International Inc Decreased by Cormark (TSE:MRE)
Martinrea International Inc (TSE:MRE) – Analysts at Cormark cut their FY2019 EPS estimates for Martinrea International in a research report issued on Monday, November 12th, according to Zacks Investment Research. Cormark analyst D. Tyerman now forecasts that the company will earn $2.54 per share for the year, down from their previous forecast of $2.63. Cormark also issued estimates for Martinrea International’s FY2020 earnings at $3.08 EPS.
Other research analysts have also issued research reports about the stock. Royal Bank of Canada lifted 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. TD Securities decreased their price target on shares of Martinrea International from C$18.50 to C$16.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. Finally, CIBC lifted their price objective on shares of Martinrea International from C$17.00 to C$20.00 in a research note on Thursday, September 13th.
Martinrea International (TSE:MRE) last posted its quarterly earnings results on Thursday, November 8th. The company reported C$0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.46 by C($0.03). The business had revenue of C$851.14 million for the quarter, compared to analysts’ expectations of C$882.35 million.
In other Martinrea International news, insider Peter Cirulis acquired 2,850 shares of Martinrea International stock in a transaction that occurred on Friday, September 28th. The stock was acquired at an average price of C$10.31 per share, with a total value of C$29,383.50. In the last ninety days, insiders purchased 6,250 shares of company stock valued at $56,686.
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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