Wall Street analysts expect Magna International Inc. (NYSE:MGA) (TSE:MG) to post sales of $10.05 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Magna International’s earnings. The highest sales estimate is $10.33 billion and the lowest is $9.91 billion. Magna International posted sales of $9.50 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.8%. The firm is expected to announce its next earnings report on Thursday, November 8th.

On average, analysts expect that Magna International will report full-year sales of $41.50 billion for the current fiscal year, with estimates ranging from $41.50 billion to $41.51 billion. For the next financial year, analysts expect that the company will post sales of $43.50 billion per share, with estimates ranging from $42.63 billion to $45.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Magna International.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Wednesday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.07). The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.45 billion. Magna International had a net margin of 5.72% and a return on equity of 19.72%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Magna International from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, June 4th. ValuEngine downgraded Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded Magna International from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Citigroup reduced their price target on Magna International from $77.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, August 9th. Finally, Royal Bank of Canada reduced their price target on Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.88.

Several large investors have recently added to or reduced their stakes in MGA. Wells Fargo & Company MN lifted its position in shares of Magna International by 11.6% during the 1st quarter. Wells Fargo & Company MN now owns 482,953 shares of the company’s stock valued at $27,215,000 after acquiring an additional 50,290 shares during the period. M&T Bank Corp lifted its position in shares of Magna International by 18.0% during the 1st quarter. M&T Bank Corp now owns 9,585 shares of the company’s stock valued at $541,000 after acquiring an additional 1,464 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Magna International by 73.7% during the 1st quarter. Neuberger Berman Group LLC now owns 483,838 shares of the company’s stock worth $27,263,000 after buying an additional 205,270 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Magna International during the 1st quarter worth $599,000. Finally, Northern Trust Corp raised its holdings in shares of Magna International by 2.4% during the 1st quarter. Northern Trust Corp now owns 367,980 shares of the company’s stock worth $20,736,000 after buying an additional 8,698 shares in the last quarter. Hedge funds and other institutional investors own 59.19% of the company’s stock.

MGA traded down $0.54 during trading on Thursday, hitting $55.99. The stock had a trading volume of 1,287,796 shares, compared to its average volume of 1,219,482. The company has a market capitalization of $19.15 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37. Magna International has a one year low of $50.78 and a one year high of $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.17 and a quick ratio of 0.82.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Magna International’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, August 30th. Magna International’s dividend payout ratio is presently 22.15%.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Earnings History and Estimates for Magna International (NYSE:MGA)

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