Magna International Inc. (NYSE:MGA) (TSE:MG) – Seaport Global Securities reduced their Q3 2019 earnings per share estimates for Magna International in a research note issued on Friday, August 9th. Seaport Global Securities analyst M. Ward now expects that the company will post earnings of $1.49 per share for the quarter, down from their prior forecast of $1.51. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Magna International’s FY2019 earnings at $6.35 EPS, Q2 2020 earnings at $1.79 EPS and Q3 2020 earnings at $1.64 EPS.
MGA has been the subject of a number of other reports. Zacks Investment Research lowered shares of Magna International from a “hold” rating to a “sell” rating and set a $51.00 price objective for the company. in a research report on Tuesday, July 16th. Wolfe Research lowered shares of Magna International from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 1st. Citigroup dropped their target price on shares of Magna International from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. ValuEngine lowered shares of Magna International from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Credit Suisse Group started coverage on shares of Magna International in a research report on Wednesday, June 26th. They set a “neutral” rating and a $55.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.56.
MGA stock opened at $49.89 on Monday. The company has a 50 day moving average price of $48.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.87. Magna International has a 12 month low of $42.51 and a 12 month high of $57.85. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 1.33 and a beta of 1.63.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.05. Magna International had a net margin of 6.35% and a return on equity of 18.35%. The company had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.91 billion. During the same period last year, the business earned $1.67 earnings per share. Magna International’s revenue was down 1.5% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in the business. Baskin Financial Services Inc. boosted its holdings in shares of Magna International by 2.3% during the 1st quarter. Baskin Financial Services Inc. now owns 277,715 shares of the company’s stock worth $13,522,000 after buying an additional 6,193 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Magna International by 13.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,510 shares of the company’s stock worth $317,000 after acquiring an additional 755 shares during the period. Miller Howard Investments Inc. NY bought a new stake in shares of Magna International during the 1st quarter worth approximately $72,126,000. MHI Funds LLC bought a new stake in shares of Magna International during the 1st quarter worth approximately $2,393,000. Finally, Boston Advisors LLC lifted its holdings in shares of Magna International by 8.0% during the 1st quarter. Boston Advisors LLC now owns 31,594 shares of the company’s stock worth $1,538,000 after acquiring an additional 2,351 shares during the period. Institutional investors and hedge funds own 58.31% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.365 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.46 annualized dividend and a yield of 2.93%. Magna International’s payout ratio is presently 21.76%.
About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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