Brokerages Expect Magna International Inc. (MGA) Will Post Earnings of $1.75 Per Share

Wall Street brokerages expect Magna International Inc. (NYSE:MGA) (TSE:MG) to announce earnings per share (EPS) of $1.75 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Magna International’s earnings, with estimates ranging from $1.66 to $1.80. Magna International reported earnings of $1.84 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.9%. The business is expected to report its next earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Magna International will report full year earnings of $6.93 per share for the current fiscal year, with EPS estimates ranging from $6.82 to $7.10. For the next financial year, analysts forecast that the firm will post earnings of $7.28 per share, with EPS estimates ranging from $6.05 to $8.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Magna International.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 22nd. The company reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.03. Magna International had a return on equity of 20.00% and a net margin of 5.62%. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period last year, the company earned $1.57 EPS. The firm’s revenue was up 4.7% on a year-over-year basis.

A number of analysts recently weighed in on the company. TD Securities downgraded Magna International from a “buy” rating to a “hold” rating and increased their price objective for the company from $59.00 to $61.00 in a report on Friday, February 22nd. Wells Fargo & Co reaffirmed a “buy” rating and set a $63.00 price target (up previously from $62.00) on shares of Magna International in a research report on Friday, February 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $64.00 price target on shares of Magna International in a research report on Friday, February 22nd. Citigroup upped their price target on shares of Magna International from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Finally, Zacks Investment Research cut shares of Magna International from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Magna International currently has a consensus rating of “Hold” and an average target price of $64.09.

NYSE MGA traded up $0.72 on Wednesday, reaching $51.60. The company had a trading volume of 613,670 shares, compared to its average volume of 1,204,494. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 1.21 and a beta of 1.40. Magna International has a fifty-two week low of $42.88 and a fifty-two week high of $67.47. The company has a quick ratio of 0.82, a current ratio of 1.15 and a debt-to-equity ratio of 0.28.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Magna International’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 7th. Magna International’s payout ratio is currently 21.76%.

Institutional investors have recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC acquired a new stake in Magna International during the 4th quarter valued at $32,000. Community Bank N.A. bought a new position in shares of Magna International during the fourth quarter worth $33,000. Financial Gravity Companies Inc. bought a new position in Magna International during the fourth quarter valued at $36,000. Parallel Advisors LLC lifted its position in Magna International by 50.5% during the fourth quarter. Parallel Advisors LLC now owns 1,461 shares of the company’s stock valued at $66,000 after purchasing an additional 490 shares during the last quarter. Finally, We Are One Seven LLC bought a new position in Magna International during the fourth quarter valued at $133,000. Institutional investors and hedge funds own 60.00% 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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