BMO Capital Markets Analysts Give Linamar Co. (TSE:LNR) a C$70.00 Price Target

BMO Capital Markets set a C$70.00 price target on Linamar Co. (TSE:LNR) in a research report released on Thursday, August 3rd. The brokerage currently has a market perform rating on the stock.

Several other equities research analysts also recently commented on the company. Scotiabank increased their price objective on Linamar from C$80.00 to C$85.00 and gave the company an outperform rating in a report on Thursday, May 11th. Royal Bank Of Canada increased their price objective on Linamar from C$66.00 to C$71.00 and gave the company a sector perform rating in a report on Thursday, May 11th. TD Securities increased their price objective on Linamar from C$68.00 to C$73.00 and gave the company a hold rating in a report on Thursday, May 11th. Finally, CIBC increased their price target on Linamar from C$65.00 to C$69.00 in a research note on Friday, May 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of C$74.00.

Shares of Linamar (TSE:LNR) opened at 67.76 on Thursday. The stock has a 50 day moving average of $67.30 and a 200 day moving average of $61.99. Linamar has a 52-week low of $47.00 and a 52-week high of $72.12. The firm has a market cap of $4.42 billion and a price-to-earnings ratio of 8.20.

Linamar (TSE:LNR) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.35 by $0.10. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. Linamar had a return on equity of 22.89% and a net margin of 9.17%. Equities analysts predict that Linamar will post $8.33 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a dividend of $0.12 per share. This is a boost from Linamar’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, August 23rd. This represents a $0.48 annualized dividend and a yield of 0.71%.

In related news, Director William Harrison sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of C$63.75, for a total value of C$318,750.00. Also, insider Kenneth Mcdougall sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of C$62.10, for a total value of C$248,400.00.

Linamar Company Profile

Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.

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