Magna International (MGA) Scheduled to Post Earnings on Friday

Magna International (NYSE:MGA) (TSE:MG) is scheduled to announce its earnings results before the market opens on Friday, November 1st. Analysts expect the company to announce earnings of $1.54 per share for the quarter. Magna International has set its FY 2024 guidance at EPS.Individual interested in listening to the company’s conference call can do so using this link.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.01 billion. Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, analysts expect Magna International to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Magna International Price Performance

Magna International stock opened at $41.31 on Thursday. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.67 and a beta of 1.59. Magna International has a 12-month low of $38.01 and a 12-month high of $60.32. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $41.39 and its 200 day simple moving average is $43.27.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Friday, August 16th. Magna International’s dividend payout ratio (DPR) is presently 53.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MGA. BMO Capital Markets cut their price objective on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Scotiabank cut their price target on Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their price objective on Magna International from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Tuesday. Barclays dropped their price objective on Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America reduced their target price on Magna International from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Magna International has an average rating of “Hold” and a consensus price target of $49.65.

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.