Magna International (MG) Scheduled to Post Earnings on Friday

Magna International (TSE:MG) (NYSE:MGA) is set to release its earnings data before the market opens on Friday, May 3rd. Analysts expect Magna International to post earnings of C$1.20 per share for the quarter.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 9th. The company reported C$1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.99 by C($0.18). The company had revenue of C$14.23 billion for the quarter, compared to analyst estimates of C$14.30 billion. Magna International had a return on equity of 10.89% and a net margin of 2.83%.

Magna International Stock Performance

MG opened at C$65.55 on Thursday. The firm has a market cap of C$18.83 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68. Magna International has a 52-week low of C$64.41 and a 52-week high of C$87.00. The company has a debt-to-equity ratio of 58.83, a quick ratio of 0.83 and a current ratio of 1.06. The business’s fifty day moving average is C$71.08 and its 200-day moving average is C$73.18.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.638 per share. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $2.55 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s dividend payout ratio is currently 44.76%.

Insider Buying and Selling

In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. In other Magna International news, Senior Officer Bruce Cluney sold 9,292 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$54.15, for a total value of C$503,164.59. Also, Director Seetarama Swamy Kotagiri sold 20,906 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total value of C$1,128,476.61. Insiders sold 34,844 shares of company stock valued at $1,887,403 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada dropped their target price on Magna International from C$61.00 to C$60.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.