Magna International Inc. Expected to Earn Q4 2019 Earnings of $1.26 Per Share (NYSE:MGA)

Magna International Inc. (NYSE:MGA) (TSE:MG) – Investment analysts at KeyCorp issued their Q4 2019 earnings estimates for Magna International in a research note issued on Sunday, November 10th. KeyCorp analyst J. Picariello forecasts that the company will post earnings per share of $1.26 for the quarter.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, November 8th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.03. Magna International had a net margin of 4.43% and a return on equity of 17.29%. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.32 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis.

Several other research analysts have also recently commented on MGA. TD Securities increased their target price on shares of Magna International from $59.00 to $60.00 and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research cut shares of Magna International from a “hold” rating to a “sell” rating and set a $55.00 price target for the company. in a research note on Monday, October 14th. Barclays cut their price target on shares of Magna International from $51.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. ValuEngine upgraded shares of Magna International from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup set a $63.00 price target on shares of Magna International and gave the company a “buy” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $56.63.

MGA traded down $0.39 during trading hours on Wednesday, hitting $55.11. 42,231 shares of the company’s stock were exchanged, compared to its average volume of 1,038,928. Magna International has a 1-year low of $42.51 and a 1-year high of $57.09. The stock’s 50-day moving average is $53.25 and its two-hundred day moving average is $49.85. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.57 and a beta of 1.57. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 0.26.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, November 21st. Magna International’s dividend payout ratio is currently 21.76%.

A number of hedge funds have recently made changes to their positions in MGA. Johnson Financial Group Inc. acquired a new stake in shares of Magna International during the 2nd quarter worth about $34,000. SevenBridge Financial Group LLC lifted its stake in shares of Magna International by 223.3% during the 2nd quarter. SevenBridge Financial Group LLC now owns 679 shares of the company’s stock worth $34,000 after buying an additional 469 shares during the last quarter. Usca Ria LLC acquired a new stake in shares of Magna International during the 3rd quarter worth about $34,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Magna International during the 2nd quarter worth about $43,000. Finally, Riverhead Capital Management LLC lifted its stake in shares of Magna International by 25.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock worth $54,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 56.03% of the company’s stock.

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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Earnings History and Estimates for Magna International (NYSE:MGA)

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