Equities research analysts predict that Magna International Inc. (NYSE:MGA) (TSE:MG) will post sales of $10.11 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Magna International’s earnings, with the highest sales estimate coming in at $10.87 billion and the lowest estimate coming in at $9.71 billion. Magna International posted sales of $9.37 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The firm is expected to report its next quarterly earnings report on Thursday, May 10th.
On average, analysts expect that Magna International will report full year sales of $10.11 billion for the current fiscal year, with estimates ranging from $40.04 billion to $40.86 billion. For the next year, analysts forecast that the firm will post sales of $42.46 billion per share, with estimates ranging from $40.77 billion to $43.20 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Magna International.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.01). Magna International had a return on equity of 19.61% and a net margin of 5.66%. The business had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $10.11 billion. During the same quarter last year, the business posted $1.31 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of MGA. Cornerstone Investment Partners LLC increased its position in Magna International by 87.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 3,223,162 shares of the company’s stock valued at $182,657,000 after buying an additional 1,505,458 shares in the last quarter. Todd Asset Management LLC increased its position in Magna International by 53.0% during the 3rd quarter. Todd Asset Management LLC now owns 319,941 shares of the company’s stock valued at $17,079,000 after buying an additional 110,835 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Magna International during the 3rd quarter valued at approximately $5,333,000. Parametric Portfolio Associates LLC increased its position in Magna International by 13.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock valued at $33,636,000 after buying an additional 72,588 shares in the last quarter. Finally, Barometer Capital Management Inc. increased its position in Magna International by 531.5% during the 4th quarter. Barometer Capital Management Inc. now owns 56,834 shares of the company’s stock valued at $3,221,000 after buying an additional 47,834 shares in the last quarter. 59.71% of the stock is owned by institutional investors.
Shares of Magna International (NYSE MGA) opened at $53.15 on Wednesday. Magna International has a fifty-two week low of $39.50 and a fifty-two week high of $59.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.22 and a quick ratio of 0.86. The firm has a market capitalization of $19,050.00, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a $0.33 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.48%. This is a positive change from Magna International’s previous quarterly dividend of $0.28. Magna International’s dividend payout ratio is currently 22.60%.
Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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