Wall Street brokerages expect Magna International Inc. (NYSE:MGA) (TSE:MG) to announce sales of $10.11 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Magna International’s earnings. The highest sales estimate is $10.63 billion and the lowest is $9.78 billion. Magna International posted sales of $10.28 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.7%. The company is scheduled to issue its next quarterly earnings results 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 financial year, with estimates ranging from $40.20 billion to $41.30 billion. For the next fiscal year, analysts forecast that the business will report sales of $41.32 billion, with estimates ranging from $40.44 billion to $42.75 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Magna International.

Magna International (NYSE:MGA) (TSE:MG) last released 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 firm had revenue of $10.59 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm posted $1.84 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis.

MGA has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of Magna International in a report on Wednesday, June 26th. They issued a “neutral” rating and a $55.00 price objective for the company. BMO Capital Markets reiterated a “sell” rating on shares of Bonterra Energy in a research report on Thursday, March 21st. Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Seaport Global Securities reiterated a “buy” rating on shares of Magna International in a research report on Tuesday, April 16th. Finally, ValuEngine upgraded shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $58.00.

MGA traded up $1.01 on Friday, reaching $47.70. The stock had a trading volume of 786,842 shares, compared to its average volume of 795,865. Magna International has a 12-month low of $42.51 and a 12-month high of $61.65. 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 company has a 50-day moving average price of $46.51. The company has a market cap of $14.82 billion, a P/E ratio of 7.11, a P/E/G ratio of 1.21 and a beta of 1.62.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Magna International during the fourth quarter worth about $162,620,000. Toronto Dominion Bank boosted its holdings in Magna International by 50.4% in the 1st quarter. Toronto Dominion Bank now owns 2,744,279 shares of the company’s stock valued at $133,609,000 after purchasing an additional 920,143 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings 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 valued at $1,906,000 after purchasing an additional 1,867,678 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in Magna International in the 1st quarter valued at about $72,126,000. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $49,826,000 after purchasing an additional 14,258 shares during the last quarter. Institutional investors and hedge funds own 56.70% 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.

Recommended Story: Moving Average (MA)

Get a free copy of the Zacks research report on Magna International (MGA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with MarketBeat.com's FREE daily email newsletter.