Brokerages Anticipate Magna International Inc. (MGA) to Announce $1.60 Earnings Per Share

Equities analysts expect Magna International Inc. (NYSE:MGA) (TSE:MG) to announce earnings of $1.60 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Magna International’s earnings, with the lowest EPS estimate coming in at $1.54 and the highest estimate coming in at $1.66. Magna International posted earnings of $1.67 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.2%. The business is expected to issue its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Magna International will report full-year earnings of $6.43 per share for the current year, with EPS estimates ranging from $6.20 to $6.80. For the next fiscal year, analysts forecast that the firm will post earnings of $6.89 per share, with EPS estimates ranging from $5.70 to $7.45. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Magna International.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.10). Magna International had a return on equity of 19.01% and a net margin of 6.75%. The business had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year.

MGA has been the subject of a number of research reports. Citigroup decreased their price objective on Magna International from $66.00 to $62.00 and set a “buy” rating for the company in a report on Thursday. ValuEngine downgraded Magna International from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Wolfe Research downgraded Magna International from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 1st. Zacks Investment Research downgraded Magna International from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Seaport Global Securities initiated coverage on Magna International in a report on Tuesday, April 16th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.11.

Several large investors have recently bought and sold shares of MGA. Cerebellum GP LLC acquired a new stake in Magna International during the 1st quarter worth approximately $329,000. Horizon Investments LLC bought a new position in Magna International during the 1st quarter worth $2,090,000. Kore Private Wealth LLC bought a new position in Magna International during the 1st quarter worth $36,000. One Wealth Advisors LLC bought a new position in Magna International during the 1st quarter worth $214,000. Finally, Advisors Asset Management Inc. increased its stake in Magna International by 8.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,140 shares of the company’s stock worth $348,000 after acquiring an additional 552 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Shares of Magna International stock traded up $0.51 during trading hours on Friday, hitting $44.08. The company’s stock had a trading volume of 933,364 shares, compared to its average volume of 1,207,585. Magna International has a 12 month low of $42.78 and a 12 month high of $66.81. The company has a market capitalization of $14.21 billion, a P/E ratio of 6.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.87.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a dividend of $0.365 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.31%. Magna International’s payout ratio is presently 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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Earnings History and Estimates for Magna International (NYSE:MGA)

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