Wall Street analysts expect Magna International Inc. (NYSE:MGA) (TSE:MG) to post earnings per share of $1.49 for the current quarter, according to Zacks. Three analysts have issued estimates for Magna International’s earnings, with estimates ranging from $1.39 to $1.55. Magna International reported earnings per share of $1.56 during the same quarter last year, which would indicate a negative year over year growth rate of 4.5%. The business is scheduled to issue its next earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Magna International will report full year earnings of $6.26 per share for the current year, with EPS estimates ranging from $6.10 to $6.35. For the next fiscal year, analysts expect that the company will post earnings of $6.60 per share, with EPS estimates ranging from $5.85 to $7.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Magna International.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.05. Magna International had a net margin of 6.35% and a return on equity of 18.19%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.91 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis.
Shares of NYSE MGA traded up $0.86 during midday trading on Friday, reaching $47.64. The company’s stock had a trading volume of 1,014,800 shares, compared to its average volume of 1,140,513. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.87 and a current ratio of 1.21. Magna International has a fifty-two week low of $42.51 and a fifty-two week high of $57.85. The business’s 50 day moving average price is $48.64 and its two-hundred day moving average price is $49.60. The company has a market cap of $14.70 billion, a P/E ratio of 7.10, a P/E/G ratio of 1.25 and a beta of 1.63.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a $0.365 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.46 annualized dividend and a yield of 3.06%. Magna International’s payout ratio is 21.76%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its holdings in Magna International by 50.4% in the first quarter. Toronto Dominion Bank now owns 2,744,279 shares of the company’s stock valued at $133,609,000 after buying an additional 920,143 shares during the period. Ellis Investment Partners LLC grew its holdings in Magna International by 4,787.7% during the 1st quarter. Ellis Investment Partners LLC now owns 1,906,688 shares of the company’s stock worth $1,906,000 after acquiring an additional 1,867,678 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in Magna International during the 1st quarter worth about $72,126,000. Cornerstone Investment Partners LLC grew its holdings in Magna International by 9.1% during the 2nd quarter. Cornerstone Investment Partners LLC now owns 1,371,445 shares of the company’s stock worth $68,161,000 after acquiring an additional 113,851 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Magna International by 48.7% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,071,757 shares of the company’s stock worth $53,442,000 after acquiring an additional 351,054 shares in the last quarter. Institutional investors and hedge funds own 58.31% of the company’s stock.
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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