Magna International (NYSE:MGA) (TSE:MG) is scheduled to be announcing its earnings results before the market opens on Thursday, November 8th. Analysts expect the company to announce earnings of $1.55 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.
Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Wednesday, August 8th. The company reported $1.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.07). Magna International had a return on equity of 19.72% and a net margin of 5.72%. The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. On average, analysts expect Magna International to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Shares of NYSE MGA opened at $49.56 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.27. Magna International has a 12 month low of $45.73 and a 12 month high of $67.47. The company has a market cap of $17.01 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.32.
Several research analysts have recently commented on MGA shares. Zacks Investment Research upgraded Magna International from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Royal Bank of Canada reduced their target price on Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Wolfe Research started coverage on Magna International in a research note on Tuesday, October 2nd. They set an “outperform” rating for the company. TD Securities reduced their target price on Magna International from $69.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday, August 9th. Finally, CIBC raised Magna International from a “neutral” rating to an “outperform” rating in a report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $67.67.
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About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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