Wall Street brokerages expect Magna International Inc. (NYSE:MGA) (TSE:MG) to announce earnings per share (EPS) of $1.49 for the current quarter, Zacks reports. Three analysts have provided estimates for Magna International’s earnings, with the lowest EPS estimate coming in at $1.39 and the highest estimate coming in at $1.55. Magna International posted earnings of $1.56 per share during the same quarter last year, which would indicate a negative year over year growth rate of 4.5%. The firm is expected to announce its next quarterly earnings results on Thursday, November 14th.
On average, analysts expect that Magna International will report full year earnings of $6.26 per share for the current financial year, with EPS estimates ranging from $6.10 to $6.35. For the next year, analysts forecast that the company will post earnings of $6.60 per share, with EPS estimates ranging from $5.85 to $7.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Magna International.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.05. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.91 billion. Magna International had a return on equity of 18.19% and a net margin of 6.35%. Magna International’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share.
Several research analysts recently weighed in on the company. Credit Suisse Group assumed coverage on Magna International in a research report on Wednesday, June 26th. They set a “neutral” rating and a $55.00 price target on the stock. Veritas Investment Research raised Magna International from a “sell” rating to a “buy” rating in a research report on Wednesday, June 19th. Zacks Investment Research lowered Magna International from a “hold” rating to a “sell” rating and set a $51.00 price target on the stock. in a research report on Tuesday, July 16th. Citigroup lowered their target price on Magna International from $66.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, ValuEngine downgraded Magna International from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Magna International presently has an average rating of “Hold” and a consensus target price of $57.56.
Institutional investors have recently bought and sold shares of the business. SevenBridge Financial Group LLC raised its holdings in Magna International by 223.3% in the 2nd quarter. SevenBridge Financial Group LLC now owns 679 shares of the company’s stock valued at $34,000 after acquiring an additional 469 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Magna International in the 2nd quarter worth approximately $34,000. Zions Bancorporation N.A. acquired a new position in shares of Magna International in the 1st quarter worth approximately $42,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Magna International in the 2nd quarter worth approximately $43,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of Magna International by 25.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock worth $54,000 after buying an additional 226 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.
NYSE:MGA traded down $1.51 during trading hours on Friday, hitting $46.98. 697,107 shares of the company’s stock traded hands, compared to its average volume of 1,065,091. The firm has a market cap of $15.23 billion, a P/E ratio of 7.00, a P/E/G ratio of 1.29 and a beta of 1.63. Magna International has a twelve month low of $42.51 and a twelve month high of $57.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 1.21. The stock’s fifty day moving average price is $48.52 and its two-hundred day moving average price is $49.49.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a $0.365 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.46 annualized dividend and a yield of 3.11%. Magna International’s dividend payout ratio (DPR) is 21.76%.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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