Magna International (MG) Scheduled to Post Earnings on Friday

Magna International (TSE:MG) (NYSE:MGA) is scheduled to announce its earnings results before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of C$1.20 per share for the quarter.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, February 9th. The company reported C$1.81 EPS for the quarter, missing the consensus estimate of C$1.99 by C($0.18). Magna International had a net margin of 2.83% and a return on equity of 10.89%. The firm had revenue of C$14.23 billion during the quarter, compared to analyst estimates of C$14.30 billion.

Magna International Price Performance

Shares of TSE:MG opened at C$65.55 on Thursday. The firm’s 50 day moving average is C$71.08 and its two-hundred day moving average is C$73.18. Magna International has a 52 week low of C$64.41 and a 52 week high of C$87.00. The firm has a market capitalization of C$18.83 billion, a P/E ratio of 11.46, a PEG ratio of 0.58 and a beta of 1.68. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 58.83.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.638 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.55 annualized dividend and a dividend yield of 3.89%. This is a positive change from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio (DPR) is presently 44.76%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada dropped their price target on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th.

Insider Activity

In other news, Senior Officer Bruce Cluney sold 9,292 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$54.15, for a total value of C$503,164.59. In related news, Senior Officer Boris Shulkin sold 4,646 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$55.05, for a total transaction of C$255,762.30. Also, Senior Officer Bruce Cluney sold 9,292 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$54.15, for a total transaction of C$503,164.59. Insiders sold 34,844 shares of company stock worth $1,887,403 over the last three months. Corporate insiders own 6.10% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.