Magna International, Inc. (NYSE:MGA) (TSE:MG) - Cormark boosted their Q3 2017 earnings per share (EPS) estimates for Magna International in a research note issued on Monday. Cormark analyst D. Tyerman now anticipates that the company will earn $1.33 per share for the quarter, up from their prior forecast of $1.24. Cormark has a “Top Pick” rating on the stock. Cormark also issued estimates for Magna International’s Q2 2018 earnings at $1.81 EPS, Q3 2018 earnings at $1.66 EPS, Q4 2018 earnings at $1.97 EPS, FY2018 earnings at $7.23 EPS, FY2019 earnings at $8.35 EPS, FY2020 earnings at $9.34 EPS and FY2021 earnings at $10.38 EPS.
Other research analysts also recently issued research reports about the company. ValuEngine downgraded Magna International from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. TD Securities upgraded Magna International from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $55.00 in a research note on Friday, May 12th. BidaskClub upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG restated a “buy” rating and issued a $61.00 price objective (up previously from $59.00) on shares of Magna International in a research note on Monday. Finally, Zacks Investment Research upgraded Magna International from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Magna International currently has a consensus rating of “Buy” and a consensus target price of $53.33.
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Magna International (MGA) opened at 47.15 on Wednesday. The company has a 50 day moving average of $47.25 and a 200 day moving average of $44.40. Magna International has a 1-year low of $36.77 and a 1-year high of $48.90. The company has a market capitalization of $17.93 billion, a PE ratio of 8.62 and a beta of 1.44.
Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.01. Magna International had a net margin of 5.73% and a return on equity of 20.40%. The business had revenue of $9.68 billion during the quarter, compared to analysts’ expectations of $9.50 billion. During the same period last year, the business earned $1.41 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of MGA. Mckinley Capital Management LLC Delaware bought a new stake in shares of Magna International during the first quarter worth about $173,000. SRS Capital Advisors Inc. boosted its stake in shares of Magna International by 16.4% in the first quarter. SRS Capital Advisors Inc. now owns 3,239 shares of the company’s stock worth $139,000 after buying an additional 456 shares during the period. IFP Advisors Inc boosted its stake in shares of Magna International by 3.8% in the first quarter. IFP Advisors Inc now owns 3,357 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the period. Advisory Services Network LLC bought a new stake in shares of Magna International during the first quarter worth about $157,000. Finally, Regent Investment Management LLC bought a new stake in shares of Magna International during the second quarter worth about $204,000. 60.44% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.10 annualized dividend and a dividend yield of 2.33%. Magna International’s payout ratio is 19.86%.
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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