Q3 2017 EPS Estimates for Magna International, Inc. (MGA) Increased by Analyst
Magna International, Inc. (NYSE:MGA) (TSE:MG) – Equities researchers at Cormark upped their Q3 2017 earnings per share (EPS) estimates for Magna International in a research note issued to investors on Monday. Cormark analyst D. Tyerman now anticipates that the company will post earnings of $1.33 per share for the quarter, up from their previous forecast of $1.24. Cormark has a “Top Pick” rating on the stock. Cormark also issued estimates for Magna International’s Q2 2018 earnings at $1.81 EPS, Q3 2018 earnings at $1.66 EPS, Q4 2018 earnings at $1.97 EPS, FY2018 earnings at $7.23 EPS, FY2019 earnings at $8.35 EPS, FY2020 earnings at $9.34 EPS and FY2021 earnings at $10.38 EPS.
Other analysts have also issued research reports about the company. Royal Bank Of Canada increased their price objective on Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Monday. Scotiabank increased their price objective on Magna International from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, May 12th. Morgan Stanley decreased their price objective on Magna International from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, June 9th. TD Securities increased their price objective on Magna International from $55.00 to $56.00 and gave the company a “buy” rating in a report on Monday. Finally, Zacks Investment Research lowered Magna International from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $52.56.
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Shares of Magna International (NYSE:MGA) opened at 46.33 on Wednesday. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 8.47 and a beta of 1.44. The firm has a 50 day moving average price of $47.18 and a 200-day moving average price of $44.38. Magna International has a 12-month low of $36.77 and a 12-month high of $48.90.
Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.01. The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. Magna International had a return on equity of 20.40% and a net margin of 5.73%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 2.37%. Magna International’s dividend payout ratio (DPR) is 19.86%.
Institutional investors have recently modified their holdings of the company. SRS Capital Advisors Inc. raised its position in shares of Magna International by 16.4% in the first quarter. SRS Capital Advisors Inc. now owns 3,239 shares of the company’s stock worth $139,000 after buying an additional 456 shares during the period. IFP Advisors Inc raised its position in shares of Magna International by 3.8% in the first quarter. IFP Advisors Inc now owns 3,357 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the period. Advisory Services Network LLC purchased a new position in shares of Magna International during the first quarter worth about $157,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Magna International during the first quarter worth about $173,000. Finally, Regent Investment Management LLC purchased a new position in shares of Magna International during the second quarter worth about $204,000. Institutional investors own 60.44% of the company’s stock.
Magna International Company Profile
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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