$10.24 Billion in Sales Expected for Magna International Inc. (MGA) This Quarter

Wall Street brokerages forecast that Magna International Inc. (NYSE:MGA) (TSE:MG) will post sales of $10.24 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Magna International’s earnings. The lowest sales estimate is $10.20 billion and the highest is $10.27 billion. Magna International reported sales of $10.39 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 28th.

On average, analysts expect that Magna International will report full year sales of $40.76 billion for the current financial year, with estimates ranging from $40.43 billion to $40.96 billion. For the next financial year, analysts expect that the company will post sales of $42.01 billion, with estimates ranging from $41.88 billion to $42.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Magna International.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 8th. The company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.07. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Magna International had a net margin of 5.83% and a return on equity of 19.98%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS.

Several equities research analysts have issued reports on MGA shares. ValuEngine lowered shares of Magna International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Royal Bank of Canada lowered their price target on shares of Magna International from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Citigroup lowered their price target on shares of Magna International from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. TD Securities lowered their price target on shares of Magna International from $69.00 to $63.00 and set a “hold” rating on the stock in a report on Thursday, August 9th. Finally, Morgan Stanley lowered their price target on shares of Magna International from $53.00 to $48.00 and set a “sell” rating on the stock in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.07.

A number of large investors have recently modified their holdings of MGA. Meadow Creek Investment Management LLC bought a new stake in Magna International during the 2nd quarter worth about $116,000. Flagship Harbor Advisors LLC bought a new stake in Magna International during the 2nd quarter worth about $122,000. Legacy Advisors LLC bought a new stake in Magna International during the 3rd quarter worth about $131,000. Glen Harbor Capital Management LLC bought a new stake in Magna International during the 2nd quarter worth about $140,000. Finally, Nisa Investment Advisors LLC bought a new stake in Magna International during the 2nd quarter worth about $163,000. 59.78% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MGA traded up $0.10 during trading hours on Friday, hitting $50.16. 284,063 shares of the company traded hands, compared to its average volume of 1,409,676. The stock has a market cap of $16.78 billion, a P/E ratio of 8.42, a PEG ratio of 0.88 and a beta of 1.32. Magna International has a twelve month low of $45.73 and a twelve month high of $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.86.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Wednesday, November 21st. Magna International’s dividend payout ratio is currently 22.15%.

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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