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

Analysts forecast that Magna International Inc. (NYSE:MGA) (TSE:MG) will report sales of $10.46 billion for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Magna International’s earnings. The lowest sales estimate is $10.35 billion and the highest is $10.64 billion. Magna International reported sales of $9.25 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.1%. The company is expected to issue its next quarterly earnings report on Friday, February 23rd.

According to Zacks, 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 fiscal year, analysts anticipate that the firm will post sales of $42.20 billion per share, with estimates ranging from $41.02 billion to $43.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Magna International.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.46% and a net margin of 5.63%. Magna International’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Magna International from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, September 20th. Bank of America upgraded Magna International from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Wednesday, October 18th. TD Securities restated a “buy” rating and issued a $56.00 target price on shares of Magna International in a research report on Tuesday, October 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price target on shares of Magna International in a report on Friday, September 15th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Magna International in a report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $56.00.

Magna International (NYSE:MGA) opened at $59.54 on Friday. The stock has a market capitalization of $20,962.35, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 0.92 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 1 year low of $39.50 and a 1 year high of $59.60.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.85%. Magna International’s payout ratio is presently 19.61%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in 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 purchasing an additional 625 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Magna International in the third quarter valued at $214,000. Westwood Management Corp IL purchased a new position in Magna International in the third quarter valued at $214,000. Laurel Wealth Advisors Inc. boosted its holdings in 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 purchasing an additional 261 shares during the period. Finally, Financial Counselors Inc. purchased a new position in Magna International in the third quarter valued at $258,000. 59.65% of the stock is owned by institutional investors and hedge funds.

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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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