Magna International Inc. (MGA) Expected to Announce Earnings of $1.60 Per Share

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Brokerages predict that Magna International Inc. (NYSE:MGA) (TSE:MG) will report earnings per share (EPS) of $1.60 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Magna International’s earnings, with estimates ranging from $1.54 to $1.66. Magna International reported earnings of $1.67 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 4.2%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that Magna International will report full year earnings of $6.43 per share for the current year, with EPS estimates ranging from $6.20 to $6.80. For the next year, analysts forecast that the firm will report earnings of $6.89 per share, with EPS estimates ranging from $5.70 to $7.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Magna International.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $1.63 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.10). The company had revenue of $10.59 billion for the quarter, compared to analyst estimates of $10.60 billion. Magna International had a net margin of 6.75% and a return on equity of 19.01%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 EPS.

A number of brokerages have recently commented on MGA. BMO Capital Markets lowered shares of Magna International from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $64.00 to $55.00 in a research report on Thursday, March 21st. ValuEngine raised shares of Magna International from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Seaport Global Securities began coverage on shares of Magna International in a research report on Tuesday, April 16th. They set a “buy” rating for the company. Wells Fargo & Co reaffirmed a “buy” rating and set a $63.00 price objective (up previously from $62.00) on shares of Magna International in a research report on Friday, February 22nd. Finally, Zacks Investment Research raised shares of Magna International from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $60.56.

Shares of MGA opened at $44.48 on Friday. The stock has a market cap of $14.13 billion, a PE ratio of 6.63, a P/E/G ratio of 1.14 and a beta of 1.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.87. Magna International has a 52 week low of $42.88 and a 52 week high of $67.07.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, May 23rd. Magna International’s dividend payout ratio (DPR) is presently 21.76%.

A number of large investors have recently bought and sold shares of the stock. Cerebellum GP LLC acquired a new position in Magna International in the first quarter worth about $329,000. Horizon Investments LLC acquired a new position in Magna International in the first quarter worth about $2,090,000. Kore Private Wealth LLC acquired a new position in Magna International in the first quarter worth about $36,000. One Wealth Advisors LLC acquired a new stake in shares of Magna International during the first quarter worth approximately $214,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Magna International by 8.4% during the first quarter. Advisors Asset Management Inc. now owns 7,140 shares of the company’s stock worth $348,000 after buying an additional 552 shares in the last quarter. 60.60% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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