Magna International Inc. to Post Q3 2024 Earnings of $2.10 Per Share, Raymond James Forecasts (TSE:MG)

Magna International Inc. (TSE:MG) (NYSE:MGA) – Raymond James dropped their Q3 2024 earnings per share (EPS) estimates for Magna International in a research report issued to clients and investors on Monday, May 6th. Raymond James analyst M. Glen now expects that the company will post earnings per share of $2.10 for the quarter, down from their previous forecast of $2.15. The consensus estimate for Magna International’s current full-year earnings is $8.16 per share. Raymond James also issued estimates for Magna International’s Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $7.65 EPS, Q1 2025 earnings at $2.30 EPS, Q2 2025 earnings at $2.49 EPS, Q3 2025 earnings at $2.39 EPS, Q4 2025 earnings at $2.30 EPS and FY2025 earnings at $9.47 EPS.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, February 9th. The company reported C$1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.18). The firm had revenue of C$14.23 billion for the quarter, compared to analysts’ expectations of C$14.30 billion. Magna International had a return on equity of 9.35% and a net margin of 2.35%.

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

Magna International Stock Down 1.8 %

MG opened at C$63.45 on Wednesday. The company has a fifty day moving average of C$70.18 and a two-hundred day moving average of C$72.96. The stock has a market capitalization of C$18.23 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.58 and a beta of 1.68. Magna International has a fifty-two week low of C$62.84 and a fifty-two week high of C$87.00. The company has a debt-to-equity ratio of 66.45, a quick ratio of 0.83 and a current ratio of 1.09.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be given a $0.642 dividend. The ex-dividend date is Thursday, May 16th. This is a boost from Magna International’s previous quarterly dividend of $0.64. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.05%. Magna International’s payout ratio is 53.11%.

Insider Transactions at Magna International

In other Magna International news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of Magna International stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. Also, Senior Officer Boris Shulkin sold 4,646 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total value of C$255,762.30. Insiders sold a total of 34,844 shares of company stock valued at $1,887,403 in the last three months. 6.19% of the stock is currently owned by company insiders.

Magna International Company Profile

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.