Magna International Inc. (NYSE:MGA) (TSE:MG) – Seaport Global Securities lowered their Q4 2019 earnings per share (EPS) estimates for Magna International in a research note issued on Sunday, November 10th. Seaport Global Securities analyst M. Ward now anticipates that the company will earn $1.37 per share for the quarter, down from their prior forecast of $1.46. Seaport Global Securities also issued estimates for Magna International’s Q1 2021 earnings at $1.88 EPS, Q2 2021 earnings at $2.09 EPS and Q3 2021 earnings at $1.87 EPS.
A number of other equities analysts have also weighed in on MGA. Citigroup set a $63.00 target price on Magna International and gave the stock a “buy” rating in a research note on Monday, August 26th. Evercore ISI restated a “hold” rating and issued a $52.00 target price on shares of Magna International in a research note on Sunday, August 11th. Zacks Investment Research lowered Magna International from a “hold” rating to a “sell” rating and set a $55.00 price objective on the stock. in a research report on Monday, October 14th. Barclays reduced their price objective on Magna International from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, ValuEngine upgraded Magna International from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $56.63.
Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, November 8th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.32 billion. Magna International had a return on equity of 17.29% and a net margin of 4.43%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, November 21st. Magna International’s payout ratio is 21.76%.
Several institutional investors have recently bought and sold shares of MGA. Johnson Financial Group Inc. bought a new stake in shares of Magna International in the second quarter worth $34,000. SevenBridge Financial Group LLC grew its holdings in shares of Magna International by 223.3% in the second quarter. SevenBridge Financial Group LLC now owns 679 shares of the company’s stock worth $34,000 after acquiring an additional 469 shares during the period. Usca Ria LLC bought a new stake in shares of Magna International in the third quarter worth $34,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Magna International in the second quarter worth $43,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of Magna International by 25.1% in the second quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock worth $54,000 after acquiring an additional 226 shares during the period. 56.03% of the stock is owned by institutional investors and hedge funds.
Magna International Company Profile
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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