Brokerages Anticipate Magna International Inc. (NYSE:MGA) Will Announce Quarterly Sales of $8.90 Billion

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.

Several equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Magna International from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Sunday, September 26th. Raymond James set a $68.00 price objective on shares of Magna International and gave the stock an “underperform” rating in a research report on Monday, November 8th. Barclays cut their price objective on shares of Magna International from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, December 16th. Wells Fargo & Company raised shares of Magna International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $84.00 to $93.00 in a research report on Thursday, December 16th. Finally, TD Securities cut their price objective on shares of Magna International from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $92.40.

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.

Recommended Story: The benefits and drawbacks of dollar cost averaging

Get a free copy of the Zacks research report on Magna International (MGA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with MarketBeat.com's FREE daily email newsletter.