Magna International (MG) to Release Quarterly Earnings on Friday

Magna International (TSE:MG) (NYSE:MGA) is scheduled to issue its quarterly earnings data before the market opens on Friday, November 1st. Analysts expect the company to announce earnings of C$2.11 per share for the quarter.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.99 by C($0.14). Magna International had a return on equity of 9.03% and a net margin of 2.29%. The company had revenue of C$14.99 billion for the quarter, compared to the consensus estimate of C$15.22 billion.

Magna International Stock Down 3.0 %

Shares of MG stock opened at C$57.90 on Wednesday. The firm has a fifty day moving average of C$56.39 and a 200-day moving average of C$59.41. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 62.12. Magna International has a 12-month low of C$51.79 and a 12-month high of C$79.98. The company has a market capitalization of C$16.64 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.45 and a beta of 1.60.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.65 per share. This is an increase from Magna International’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.60 annualized dividend and a dividend yield of 4.49%. Magna International’s dividend payout ratio is currently 54.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MG. Royal Bank of Canada downgraded shares of Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Wolfe Research raised shares of Magna International to a “strong sell” rating in a research report on Thursday, September 5th.

About Magna International

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.