$10.35 Billion in Sales Expected for Magna International Inc. (MGA) This Quarter

Wall Street analysts forecast that Magna International Inc. (NYSE:MGA) (TSE:MG) will post $10.35 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Magna International’s earnings. The lowest sales estimate is $9.86 billion and the highest is $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 11.9%. The company is expected to announce its next quarterly earnings report on Friday, February 23rd.

According to Zacks, analysts expect that Magna International will report full-year sales of $10.35 billion for the current fiscal year, with estimates ranging from $36.61 billion to $39.19 billion. For the next year, analysts forecast that the firm will post sales of $40.40 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Magna International.

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

MGA has been the topic of a number of research reports. Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $45.00 to $41.00 in a research note on Monday, October 16th. KeyCorp upped their price target on Magna International from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research downgraded Magna International from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. BMO Capital Markets reaffirmed a “hold” rating on shares of Magna International in a research note on Monday, November 6th. Finally, Bank of America raised Magna International from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $61.54.

Magna International (NYSE:MGA) opened at $58.28 on Monday. Magna International has a 52 week low of $39.50 and a 52 week high of $59.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market capitalization of $21,030.92, a P/E ratio of 10.39, a P/E/G ratio of 0.92 and a beta of 1.49.

Institutional investors have recently modified their holdings of the company. Westwood Management Corp IL purchased a new stake in shares of Magna International in the third quarter worth approximately $214,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Magna International in the third quarter worth approximately $214,000. 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 worth $197,000 after purchasing an additional 625 shares during the last quarter. Financial Counselors Inc. purchased a new stake in shares of Magna International in the third quarter worth approximately $258,000. 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 worth $248,000 after purchasing an additional 261 shares during the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.

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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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