Magna International, Inc. (MGA) Expected to Post Quarterly Sales of $10.46 Billion

Wall Street analysts expect that Magna International, Inc. (NYSE:MGA) (TSE:MG) will report $10.46 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Magna International’s earnings, with the lowest sales estimate coming in at $10.35 billion and the highest estimate coming in at $10.64 billion. Magna International reported sales of $9.25 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 13.1%. The business is scheduled to issue its next quarterly earnings report on Friday, February 23rd.

On average, analysts expect that Magna International will report full year sales of $10.46 billion for the current fiscal year, with estimates ranging from $38.90 billion to $39.19 billion. For the next financial year, analysts forecast that the company will post sales of $41.97 billion per share, with estimates ranging from $39.64 billion to $43.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Magna International.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.05. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.26 billion. Magna International had a net margin of 5.63% and a return on equity of 19.46%. Magna International’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share.

A number of research firms recently issued reports on MGA. Royal Bank Of Canada upped their price target on shares of Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. ValuEngine downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Magna International from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 16th. Citigroup upped their price target on shares of Magna International from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, TD Securities upped their price target on shares of Magna International from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.00.

Several institutional investors and hedge funds have recently made changes to their positions in MGA. IFP Advisors Inc raised its stake in shares of Magna International by 19.5% in the second quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after acquiring an additional 654 shares during the period. Advisory Services Network LLC raised its stake in shares of Magna International by 17.2% in the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after acquiring an additional 625 shares during the period. Westwood Management Corp IL purchased a new stake in shares of Magna International in the third quarter valued at $214,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Magna International in the third quarter valued at $214,000. Finally, Laurel Wealth Advisors Inc. raised its stake in shares of Magna International by 5.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after acquiring an additional 261 shares during the period. 59.66% of the stock is currently owned by institutional investors and hedge funds.

Magna International (MGA) traded up $0.37 during trading on Friday, reaching $56.37. 1,206,877 shares of the company were exchanged, compared to its average volume of 907,456. The stock has a market capitalization of $20,236.59, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 0.99 and a beta of 1.49. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.28. Magna International has a 52 week low of $39.50 and a 52 week high of $56.46.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 22nd. Magna International’s dividend payout ratio is currently 19.61%.

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

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