Mercer International (NASDAQ:MERC) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.58 and traded as high as $6.67. Mercer International shares last traded at $6.61, with a volume of 197,993 shares.

Analyst Upgrades and Downgrades

Separately, Raymond James reduced their price objective on shares of Mercer International from $7.50 to $7.00 in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.25.

Mercer International Stock Down 1.7 %

The firm has a market capitalization of $435.33 million, a PE ratio of -5.13 and a beta of 1.20. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.79 and a quick ratio of 2.39. The company’s fifty day simple moving average is $6.77 and its 200-day simple moving average is $6.58.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.23. The firm had revenue of $488.41 million for the quarter, compared to analyst estimates of $497.00 million. Mercer International had a negative net margin of 4.17% and a negative return on equity of 5.18%. On average, analysts forecast that Mercer International Inc. will post -0.29 EPS for the current year.

Mercer International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 26th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Wednesday, March 26th. Mercer International’s payout ratio is -23.62%.

Institutional Investors Weigh In On Mercer International

Several hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new position in shares of Mercer International in the fourth quarter worth about $58,000. Entropy Technologies LP raised its position in shares of Mercer International by 56.0% in the fourth quarter. Entropy Technologies LP now owns 17,270 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 6,200 shares during the period. BNP Paribas Financial Markets raised its position in shares of Mercer International by 22.7% in the third quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 6,786 shares during the period. Quantbot Technologies LP raised its position in shares of Mercer International by 505.8% in the third quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 41,315 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Mercer International by 1.7% in the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company’s stock worth $3,559,000 after acquiring an additional 8,957 shares during the period. 85.79% of the stock is owned by hedge funds and other institutional investors.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.