Q2 2024 EPS Estimates for Magna International Inc. Raised by Raymond James (TSE:MG)

Magna International Inc. (TSE:MG) (NYSE:MGA) – Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for Magna International in a report issued on Monday, May 6th. Raymond James analyst M. Glen now forecasts that the company will post earnings of $2.05 per share for the quarter, up from their prior estimate of $2.03. The consensus estimate for Magna International’s current full-year earnings is $8.16 per share.

Separately, Royal Bank of Canada cut their price objective on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th.

Magna International Price Performance

TSE:MG opened at C$64.64 on Thursday. The company has a debt-to-equity ratio of 66.45, a current ratio of 1.09 and a quick ratio of 0.83. Magna International has a one year low of C$62.84 and a one year high of C$87.00. The company has a fifty day moving average price of C$70.37 and a 200 day moving average price of C$73.02. The stock has a market cap of C$18.57 billion, a P/E ratio of 13.41, a PEG ratio of 0.58 and a beta of 1.68.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Friday, February 9th. The company reported C$1.81 EPS for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.18). The business had revenue of C$14.23 billion for the quarter, compared to analyst estimates of C$14.30 billion. Magna International had a return on equity of 9.35% and a net margin of 2.35%.

Insider Buying and Selling

In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total value of C$1,128,476.61. In other Magna International news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. Also, Senior Officer Bruce Cluney sold 9,292 shares of Magna International stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of C$54.15, for a total value of C$503,164.59. Insiders sold a total of 34,844 shares of company stock valued at $1,887,403 over the last ninety days. 6.19% of the stock is owned by company insiders.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be given a $0.642 dividend. This is a boost from Magna International’s previous quarterly dividend of $0.64. This represents a $2.57 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 16th. Magna International’s dividend payout ratio (DPR) is 53.11%.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.