Magna International Inc. (TSE:MG) (NYSE:MGA) – Research analysts at Cormark upped their Q4 2019 EPS estimates for shares of Magna International in a note issued to investors on Wednesday, October 31st. Cormark analyst D. Tyerman now forecasts that the company will post earnings of $2.80 per share for the quarter, up from their previous forecast of $2.76. Cormark also issued estimates for Magna International’s FY2020 earnings at $12.60 EPS, FY2021 earnings at $14.20 EPS and FY2022 earnings at $16.05 EPS.
Separately, Wolfe Research reiterated an “outperform” rating and set a C$67.00 price target on shares of Magna International in a research report on Tuesday, October 2nd.
Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Wednesday, August 8th. The company reported C$2.14 EPS for the quarter, missing the consensus estimate of C$2.21 by C($0.07). Magna International had a return on equity of 19.24% and a net margin of 5.28%. The business had revenue of C$13.27 billion for the quarter, compared to analyst estimates of C$13.77 billion.
About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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