Equities analysts expect that Magna International Inc. (NYSE:MGA) (TSE:MG) will post $8.90 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Magna International’s earnings. The highest sales estimate is $8.96 billion and the lowest is $8.83 billion. Magna International reported sales of $10.57 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 15.8%. The firm is scheduled to issue its next earnings report on Friday, February 18th.
On average, analysts expect that Magna International will report full-year sales of $36.01 billion for the current financial year, with estimates ranging from $35.97 billion to $36.09 billion. For the next fiscal year, analysts expect that the firm will report sales of $39.79 billion, with estimates ranging from $37.78 billion to $41.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Magna International.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 5th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.19). Magna International had a net margin of 4.74% and a return on equity of 16.64%. The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.85 billion. During the same quarter last year, the company posted $1.95 earnings per share. The company’s revenue was down 13.3% on a year-over-year basis.
Shares of MGA stock traded down $0.31 on Friday, hitting $89.03. The company’s stock had a trading volume of 886,049 shares, compared to its average volume of 1,150,105. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 1.41. The stock’s 50 day moving average is $81.95 and its 200-day moving average is $82.32. Magna International has a fifty-two week low of $69.28 and a fifty-two week high of $104.28. The company has a market capitalization of $26.52 billion, a PE ratio of 15.04, a PEG ratio of 0.65 and a beta of 1.54.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Investors of record on Friday, November 19th were issued a $0.347 dividend. The ex-dividend date was Thursday, November 18th. This represents a $1.39 dividend on an annualized basis and a yield of 1.56%. Magna International’s dividend payout ratio (DPR) is presently 29.05%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in Magna International by 125.6% during the 2nd quarter. Van ECK Associates Corp now owns 767 shares of the company’s stock valued at $71,000 after purchasing an additional 427 shares during the period. Mitchell Capital Management Co. increased its position in Magna International by 109.4% during the 2nd quarter. Mitchell Capital Management Co. now owns 8,942 shares of the company’s stock valued at $828,000 after purchasing an additional 4,671 shares during the period. AGF Investments Inc. increased its position in Magna International by 57.2% during the 2nd quarter. AGF Investments Inc. now owns 720,194 shares of the company’s stock valued at $66,680,000 after purchasing an additional 262,125 shares during the period. Bank of New York Mellon Corp increased its position in Magna International by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 858,090 shares of the company’s stock valued at $79,493,000 after purchasing an additional 14,860 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Magna International during the 2nd quarter valued at approximately $24,990,000. Institutional investors and hedge funds own 59.58% of the company’s stock.
About Magna International
Magna International, Inc is a mobility technology company, which supplies to the automotive industry. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems and roof systems operations.
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