Brokerages Anticipate Magna International, Inc. (MGA) to Post $1.34 Earnings Per Share
Wall Street analysts forecast that Magna International, Inc. (NYSE:MGA) (TSE:MG) will report earnings per share of $1.34 for the current quarter, according to Zacks. Four analysts have made estimates for Magna International’s earnings. The highest EPS estimate is $1.40 and the lowest is $1.26. Magna International reported earnings per share of $1.29 in the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is expected to announce its next earnings report before the market opens on Thursday, November 9th.
According to Zacks, analysts expect that Magna International will report full-year earnings of $5.93 per share for the current year, with EPS estimates ranging from $5.80 to $6.05. For the next fiscal year, analysts expect that the firm will post earnings of $6.53 per share, with EPS estimates ranging from $5.85 to $7.23. Zacks’ EPS averages are an average based on a survey of analysts that cover Magna International.
Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The firm had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis.
Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, August 14th. Cormark upgraded shares of Magna International from a “buy” rating to a “top pick” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 16th. ValuEngine downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Citigroup Inc. upped their price objective on shares of Magna International from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.00.
Shares of Magna International (NYSE:MGA) traded up 1.24% during mid-day trading on Friday, hitting $55.39. 1,487,083 shares of the stock were exchanged. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 10.01 and a beta of 1.46. The stock has a 50-day moving average price of $52.46 and a 200 day moving average price of $46.89. Magna International has a 52-week low of $36.77 and a 52-week high of $55.75.
Large investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of Magna International by 19.5% during the 2nd quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after buying an additional 654 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Magna International by 17.2% during the 2nd quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after buying an additional 625 shares in the last quarter. Regent Investment Management LLC purchased a new position in shares of Magna International during the 2nd quarter valued at approximately $204,000. Smithbridge Asset Management Inc. DE purchased a new position in shares of Magna International during the 2nd quarter valued at approximately $219,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in shares of Magna International during the 1st quarter valued at approximately $220,000. Hedge funds and other institutional investors own 59.41% 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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