FY2024 Earnings Forecast for Linamar Issued By Scotiabank

Linamar Co. (TSE:LNR) – Stock analysts at Scotiabank decreased 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 anticipates that the company will post earnings per share of $9.51 for the year, down from their prior forecast of $9.80. Scotiabank currently has a “Sector Perform” rating and a $77.00 price target 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.

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

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

Linamar Price Performance

LNR stock opened at C$54.78 on Friday. The company has a market capitalization of C$3.37 billion, a P/E ratio of 5.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. Linamar has a 52-week low of C$54.35 and a 52-week high of C$73.84. The business has a 50-day simple moving average of C$59.22 and a two-hundred day simple moving average of C$62.35. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68.

Insider Transactions at Linamar

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

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.