Brokerages expect Magna International, Inc. (NYSE:MGA) (TSE:MG) to announce $1.46 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Magna International’s earnings. The lowest EPS estimate is $1.38 and the highest is $1.55. Magna International reported earnings per share of $1.41 in the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The company is expected to report its next quarterly earnings report before the market opens on Friday, August 11th.

According to Zacks, analysts expect that Magna International will report full year earnings of $5.76 per share for the current fiscal year, with EPS estimates ranging from $5.60 to $5.93. For the next year, analysts forecast that the company will report earnings of $6.33 per share, with EPS estimates ranging from $5.65 to $6.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Magna International.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, May 11th. The company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.19. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.13 billion. Magna International had a return on equity of 20.58% and a net margin of 5.76%. Magna International’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share.

Several brokerages recently commented on MGA. Zacks Investment Research lowered Magna International from a “hold” rating to a “sell” rating in a research report on Tuesday. Cormark upgraded Magna International from a “buy” rating to a “top pick” rating in a research report on Tuesday, July 11th. BidaskClub upgraded Magna International from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Morgan Stanley cut their target price on Magna International from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Finally, ValuEngine lowered Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $51.00.

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Shares of Magna International (NYSE:MGA) opened at 48.38 on Thursday. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 8.84 and a beta of 1.44. The stock’s 50 day moving average price is $46.00 and its 200-day moving average price is $43.90. Magna International has a 52-week low of $36.77 and a 52-week high of $48.44.

Several hedge funds have recently modified their holdings of the company. Schroder Investment Management Group increased its stake in shares of Magna International by 28.4% in the first quarter. Schroder Investment Management Group now owns 1,852,568 shares of the company’s stock valued at $107,838,000 after buying an additional 410,007 shares during the period. DnB Asset Management AS increased its stake in shares of Magna International by 1.8% in the second quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after buying an additional 27,384 shares during the period. Scout Investments Inc. increased its stake in shares of Magna International by 49.4% in the first quarter. Scout Investments Inc. now owns 1,169,386 shares of the company’s stock valued at $50,237,000 after buying an additional 386,447 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Magna International by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,146,311 shares of the company’s stock valued at $49,453,000 after buying an additional 42,884 shares during the period. Finally, Cardinal Capital Management Inc. increased its stake in shares of Magna International by 2,712.5% in the second quarter. Cardinal Capital Management Inc. now owns 987,200 shares of the company’s stock valued at $45,676,000 after buying an additional 952,100 shares during the period. 61.38% of the stock is owned by hedge funds and other institutional investors.

About Magna International

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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

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