Equities research analysts expect Magna International Inc. (NYSE:MGA) (TSE:MG) to post sales of $10.26 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Magna International’s earnings, with the lowest sales estimate coming in at $10.20 billion and the highest estimate coming in at $10.30 billion. Magna International reported sales of $10.39 billion in the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The business is scheduled to report its next earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Magna International will report full-year sales of $40.82 billion for the current financial year, with estimates ranging from $40.43 billion to $40.99 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $41.71 billion, with estimates ranging from $40.79 billion to $42.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Magna International.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, November 8th. The company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.07. Magna International had a return on equity of 19.98% and a net margin of 5.83%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year.
Several analysts have issued reports on MGA shares. Citigroup cut their price objective on Magna International from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, October 12th. TD Securities raised Magna International from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Thursday. Barclays began coverage on shares of Magna International in a research note on Wednesday, October 10th. They issued an “equal weight” rating for the company. ValuEngine raised shares of Magna International from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. Finally, Zacks Investment Research raised shares of Magna International from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $65.73.
Shares of NYSE MGA traded up $1.04 during trading on Thursday, reaching $50.06. The company had a trading volume of 97,179 shares, compared to its average volume of 1,065,267. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 0.76 and a beta of 1.29. Magna International has a twelve month low of $42.88 and a twelve month high of $67.47. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 0.27.
Several large investors have recently made changes to their positions in MGA. Meadow Creek Investment Management LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $116,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $122,000. Legacy Advisors LLC acquired a new stake in shares of Magna International during the 3rd quarter worth approximately $131,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $140,000. Finally, First Hawaiian Bank acquired a new stake in shares of Magna International during the 3rd quarter worth approximately $190,000. Hedge funds and other institutional investors own 59.03% 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, 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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