Zacks: Brokerages Expect Magna International Inc. (NYSE:MGA) Will Announce Quarterly Sales of $9.19 Billion

Analysts expect that Magna International Inc. (NYSE:MGA) (TSE:MG) will announce sales of $9.19 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Magna International’s earnings, with estimates ranging from $8.96 billion to $9.47 billion. Magna International posted sales of $10.14 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 9.4%. The company is scheduled to issue its next earnings results before the market opens on Friday, February 21st.

On average, analysts expect that Magna International will report full-year sales of $39.09 billion for the current fiscal year, with estimates ranging from $38.70 billion to $39.50 billion. For the next financial year, analysts forecast that the company will report sales of $38.87 billion, with estimates ranging from $38.53 billion to $39.11 billion. Zacks’ 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 posted its quarterly earnings data on Friday, February 21st. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.32 by $0.09. The firm had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $9.11 billion. Magna International had a return on equity of 17.59% and a net margin of 4.43%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 earnings per share.

A number of equities research analysts have recently issued reports on MGA shares. ValuEngine downgraded shares of Magna International from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. Zacks Investment Research upgraded Magna International from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, January 15th. TD Securities raised their price objective on Magna International from $59.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Benchmark initiated coverage on Magna International in a report on Thursday, January 9th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Raymond James set a $60.00 target price on Magna International and gave the stock a “market perform” rating in a research report on Sunday, January 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Magna International presently has a consensus rating of “Hold” and a consensus target price of $58.15.

Magna International stock traded down $1.05 during midday trading on Tuesday, hitting $51.43. The stock had a trading volume of 676,372 shares, compared to its average volume of 584,807. Magna International has a 52-week low of $42.51 and a 52-week high of $57.09. The company has a market capitalization of $16.12 billion, a PE ratio of 9.47, a P/E/G ratio of 1.34 and a beta of 1.51. The firm’s fifty day moving average is $52.64 and its two-hundred day moving average is $52.75. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.40 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. Magna International’s payout ratio is presently 21.76%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. increased its holdings in shares of Magna International by 109.8% during the fourth quarter. Whittier Trust Co. now owns 535 shares of the company’s stock worth $29,000 after buying an additional 280 shares in the last quarter. Usca Ria LLC acquired a new position in shares of Magna International in the 3rd quarter valued at about $34,000. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Magna International during the 4th quarter valued at about $40,000. Bessemer Group Inc. grew its stake in Magna International by 1,364.2% during the fourth quarter. Bessemer Group Inc. now owns 1,757 shares of the company’s stock worth $96,000 after purchasing an additional 1,637 shares during the period. Finally, Assetmark Inc. grew its stake in Magna International by 10.2% during the fourth quarter. Assetmark Inc. now owns 3,328 shares of the company’s stock worth $183,000 after purchasing an additional 307 shares during the period. 56.76% of the stock is owned by 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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