Equities analysts forecast that Magna International Inc. (NYSE:MGA) (TSE:MG) will post earnings per share of $1.56 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Magna International’s earnings, with the highest EPS estimate coming in at $1.64 and the lowest estimate coming in at $1.50. Magna International posted earnings of $1.36 per share in the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Magna International will report full-year earnings of $6.85 per share for the current fiscal year, with EPS estimates ranging from $6.70 to $7.01. For the next year, analysts forecast that the business will report earnings of $7.32 per share, with EPS estimates ranging from $5.60 to $8.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Magna International.

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

Several equities analysts have recently weighed in on MGA shares. Citigroup reduced their price objective on shares of Magna International from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. ValuEngine lowered shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. TD Securities reduced their price objective on shares of Magna International from $69.00 to $63.00 and set a “hold” rating for the company in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of Magna International from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Royal Bank of Canada reduced their price objective on shares of Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.88.

MGA traded down $2.61 on Tuesday, reaching $52.47. The company had a trading volume of 2,059,600 shares, compared to its average volume of 1,265,834. Magna International has a one year low of $50.78 and a one year high of $67.47. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.04 billion, a PE ratio of 9.11, a P/E/G ratio of 0.96 and a beta of 1.38.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, August 30th. This is a positive change from Magna International’s previous quarterly dividend of $0.26. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. Magna International’s dividend payout ratio is currently 22.15%.

A number of hedge funds have recently bought and sold shares of MGA. Meadow Creek Investment Management LLC purchased a new stake in Magna International during the second quarter valued at about $116,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Magna International in the second quarter worth approximately $122,000. Synovus Financial Corp purchased a new stake in shares of Magna International in the first quarter worth approximately $128,000. Glen Harbor Capital Management LLC purchased a new stake in shares of Magna International in the second quarter worth approximately $140,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Magna International in the second quarter worth approximately $163,000. 59.19% of the stock is owned by institutional investors.

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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