Magna International (MGA) Releases Quarterly Earnings, Beats Estimates By $0.10 EPS
Magna International (NYSE:MGA) issued its quarterly earnings data on Friday. The company reported $2.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.22 by $0.10, Analyst RN reports. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $9.36 billion.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Magna International in a research note on Tuesday, July 22nd. They now have a $116.00 price target on the stock, up previously from $107.00. On a related note, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Magna International in a research note on Thursday, June 26th. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Magna International in a research note on Tuesday, May 13th. They now have a $107.00 price target on the stock, up previously from $99.00. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Magna International has an average rating of “Buy” and a consensus target price of $107.64.
Magna International (NYSE:MGA) opened at 105.16 on Friday. Magna International has a one year low of $75.45 and a one year high of $112.20. The stock has a 50-day moving average of $109.0 and a 200-day moving average of $99.19. The company has a market cap of $22.908 billion and a price-to-earnings ratio of 15.40.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.45%.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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