$10.11 Billion in Sales Expected for Magna International Inc. (NYSE:MGA) This Quarter

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Wall Street brokerages expect Magna International Inc. (NYSE:MGA) (TSE:MG) to report $10.11 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Magna International’s earnings, with estimates ranging from $9.78 billion to $10.63 billion. Magna International posted sales of $10.28 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, August 8th.

On average, analysts expect that Magna International will report full year sales of $40.54 billion for the current fiscal year, with estimates ranging from $40.20 billion to $41.30 billion. For the next financial year, analysts forecast that the company will post sales of $41.32 billion, with estimates ranging from $40.44 billion to $42.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Magna International.

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

Several equities research analysts have recently issued reports on MGA shares. Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Wolfe Research lowered Magna International from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 1st. ValuEngine raised VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Seaport Global Securities reissued a “buy” rating on shares of Magna International in a research note on Tuesday, April 16th. Finally, BMO Capital Markets reiterated a “sell” rating on shares of Bonterra Energy in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.00.

A number of institutional investors have recently modified their holdings of MGA. Squar Milner Financial Services LLC boosted its stake in shares of Magna International by 5.7% in the 1st quarter. Squar Milner Financial Services LLC now owns 3,504 shares of the company’s stock worth $170,000 after buying an additional 188 shares during the last quarter. Greenleaf Trust increased its stake in Magna International by 3.2% in the first quarter. Greenleaf Trust now owns 6,917 shares of the company’s stock valued at $337,000 after acquiring an additional 212 shares during the last quarter. CLARET ASSET MANAGEMENT Corp increased its stake in Magna International by 3.4% in the first quarter. CLARET ASSET MANAGEMENT Corp now owns 8,862 shares of the company’s stock valued at $431,000 after acquiring an additional 289 shares during the last quarter. Comerica Bank increased its stake in Magna International by 2.1% in the fourth quarter. Comerica Bank now owns 21,642 shares of the company’s stock valued at $1,124,000 after acquiring an additional 440 shares during the last quarter. Finally, Liberty Wealth Management LLC bought a new position in shares of Magna International during the fourth quarter valued at about $32,000. 56.70% of the stock is owned by institutional investors and hedge funds.

NYSE:MGA traded down $0.07 during mid-day trading on Friday, reaching $46.70. 33,985 shares of the stock were exchanged, compared to its average volume of 1,147,727. The business’s fifty day moving average price is $46.37. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 1.25 and a beta of 1.62. Magna International has a 1-year low of $42.51 and a 1-year high of $61.65. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.26.

About Magna International

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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