Scotiabank Forecasts Lower Earnings for Magna International

Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities research analysts at Scotiabank cut their FY2027 earnings estimates for Magna International in a report released on Thursday, July 23rd. Scotiabank analyst J. Goldman now expects that the company will post earnings per share of $10.51 for the year, down from their previous forecast of $10.77. Scotiabank has a “Strong-Buy” rating on the stock. The consensus estimate for Magna International’s current full-year earnings is $8.89 per share.

Magna International (TSE:MG) (NYSE:MGA) last posted its earnings results on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. The company had revenue of C$14.43 billion for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.

Separately, Veritas upgraded Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Four research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Magna International Trading Down 0.0%

TSE:MG opened at C$92.55 on Friday. The firm has a 50 day moving average of C$91.39 and a 200 day moving average of C$83.85. The stock has a market capitalization of C$25.19 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 0.45 and a beta of 2.13. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 56.24. Magna International has a 52 week low of C$56.04 and a 52 week high of C$97.04.

Insider Buying and Selling

In other news, insider Tom Rucker Joerg sold 39,210 shares of Magna International stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the completion of the transaction, the insider directly owned 31,633 shares of the company’s stock, valued at C$2,928,583.14. The trade was a 55.35% decrease in their position. Also, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$86.46, for a total transaction of C$1,706,028.72. Following the completion of the transaction, the insider owned 30,470 shares of the company’s stock, valued at approximately C$2,634,436.20. This represents a 39.31% decrease in their ownership of the stock. Insiders sold 150,405 shares of company stock valued at $13,505,134 in the last three months. 6.18% of the stock is currently owned by insiders.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. Magna International’s dividend payout ratio is presently 82.28%.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.