Magna International (MG) Set to Announce Quarterly Earnings on Friday

Magna International (TSE:MG) (NYSE:MGA) will be announcing its earnings results before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of C$1.20 per share for the quarter.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings data on Friday, February 9th. The company reported C$1.81 EPS for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.18). Magna International had a net margin of 2.83% and a return on equity of 10.89%. The business had revenue of C$14.23 billion during the quarter, compared to analyst estimates of C$14.30 billion.

Magna International Stock Down 1.3 %

TSE:MG opened at C$66.54 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 58.83. The stock’s fifty day moving average is C$71.66 and its two-hundred day moving average is C$73.36. Magna International has a 52 week low of C$64.41 and a 52 week high of C$87.00. The stock has a market capitalization of C$19.12 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.638 dividend. This represents a $2.55 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio is 44.76%.

Insider Buying and Selling at Magna International

In related news, Senior Officer Boris Shulkin sold 4,646 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$55.05, for a total transaction of C$255,762.30. In related news, Senior Officer Boris Shulkin sold 4,646 shares of the company’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. Also, Senior Officer Bruce Cluney sold 9,292 shares of Magna International stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$54.15, for a total transaction of C$503,164.59. Insiders sold a total of 34,844 shares of company stock valued at $1,887,403 in the last ninety days. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reduced their price objective on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th.

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.