Martinrea International (TSE:MRE) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Martinrea International Inc. (TSE:MRE) has crossed above its 200-day moving average, with shares trading as high as C$9.58 and last reported at C$9.35.
• Recent analyst ratings show mixed sentiment, with CIBC and TD Securities raising price targets while Raymond James lowered theirs, maintaining a consensus rating of "Hold".
• The company announced a quarterly dividend of $0.05 per share, yielding 2.1%, payable on October 15th to shareholders recorded by September 30th.

Martinrea International Inc. (TSE:MRE - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.04 and traded as high as C$9.58. Martinrea International shares last traded at C$9.35, with a volume of 76,239 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MRE shares. Raymond James Financial cut their price target on shares of Martinrea International from C$14.00 to C$12.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. CIBC upgraded shares of Martinrea International from a "neutral" rating to an "outperform" rating and raised their price target for the stock from C$10.50 to C$13.00 in a research note on Tuesday. Finally, TD Securities raised their price target on shares of Martinrea International from C$13.00 to C$14.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$12.50.

Martinrea International Trading Up 2.8%

The stock has a market cap of C$739.61 million, a P/E ratio of 7.41, a PEG ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68. The business's 50 day simple moving average is C$8.72 and its 200 day simple moving average is C$8.06.

Martinrea International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. Martinrea International's dividend payout ratio (DPR) is currently 14.90%.

About Martinrea International

Martinrea International Inc is a Canadian producer of steel and aluminium parts and fluid management systems. Its products are used primarily in the automotive sector by the majority of vehicle manufacturers. Martinrea manufactures aluminum engine blocks, specialized products, suspensions, chassis modules and components, and fluid management systems for fuel, power steering and brake fluids.