$1.60 Earnings Per Share Expected for Magna International Inc. (NYSE:MGA) This Quarter

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Equities research analysts predict that Magna International Inc. (NYSE:MGA) (TSE:MG) will report earnings per share (EPS) of $1.60 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 per share of $1.67 during the same quarter last year, which suggests a negative year-over-year growth rate of 4.2%. The business is scheduled to announce its next earnings report before the market opens on Thursday, August 8th.

According to Zacks, analysts expect that Magna International will report full year earnings of $6.42 per share for the current fiscal year, with EPS estimates ranging from $6.20 to $6.80. For the next year, analysts expect that the business will report earnings of $6.87 per share, with EPS estimates ranging from $5.70 to $7.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Magna International.

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

A number of research analysts recently issued reports on the company. CIBC reaffirmed a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Veritas Investment Research raised Magna International from a “sell” rating to a “buy” rating in a report on Wednesday, June 19th. Seaport Global Securities reaffirmed a “buy” rating on shares of Magna International in a report on Tuesday, April 16th. Finally, Wolfe Research lowered Magna International from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 1st. 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. The stock currently has an average rating of “Hold” and an average price target of $58.00.

Shares of NYSE MGA traded down $0.07 during midday trading on Thursday, reaching $46.70. 33,985 shares of the company traded hands, compared to its average volume of 1,147,727. Magna International has a 52 week low of $42.51 and a 52 week high of $61.65. The stock’s 50-day moving average is $46.37. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $14.85 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.62.

A number of large investors have recently added to or reduced their stakes in MGA. Norges Bank purchased a new position in Magna International in the 4th quarter worth about $162,620,000. Toronto Dominion Bank increased its stake in Magna International by 50.4% in the 1st quarter. Toronto Dominion Bank now owns 2,744,279 shares of the company’s stock worth $133,609,000 after purchasing an additional 920,143 shares in the last quarter. Ellis Investment Partners LLC increased its stake in Magna International by 4,787.7% in the 1st quarter. Ellis Investment Partners LLC now owns 1,906,688 shares of the company’s stock worth $1,906,000 after purchasing an additional 1,867,678 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new position in Magna International in the 1st quarter worth about $72,126,000. Finally, Bank of New York Mellon Corp increased its stake in Magna International by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,096,279 shares of the company’s stock worth $49,826,000 after purchasing an additional 14,258 shares in the last quarter. 56.70% of the stock is currently owned by hedge funds and other institutional investors.

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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