Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities researchers at KeyCorp dropped their FY2021 earnings per share (EPS) estimates for shares of Magna International in a report released on Tuesday, April 20th. KeyCorp analyst J. Picariello now expects that the company will post earnings per share of $8.88 for the year, down from their prior forecast of $9.71. KeyCorp also issued estimates for Magna International’s FY2022 earnings at $11.29 EPS.
Other equities research analysts also recently issued research reports about the stock. Raymond James upped their price target on shares of Magna International to C$85.00 and gave the company a “market perform” rating in a research report on Monday, February 22nd. TD Securities upped their price target on shares of Magna International to C$100.00 and gave the company a “buy” rating in a research report on Monday, February 22nd.
Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 19th. The company reported C$3.69 EPS for the quarter, beating the consensus estimate of C$2.53 by C$1.16. The business had revenue of C$13.77 billion for the quarter, compared to analyst estimates of C$12.79 billion.
The business also recently announced a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Friday, March 5th were given a $0.549 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, March 4th. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. Magna International’s dividend payout ratio is presently 50.76%.
In other Magna International news, Director Tommy Joseph Skudutis sold 198,689 shares of the stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of C$111.98, for a total value of C$22,248,319.99. Following the completion of the sale, the director now owns 52,257 shares in the company, valued at approximately C$5,851,508.93. Also, Senior Officer Vincent Joseph Galifi sold 74,709 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of C$106.63, for a total transaction of C$7,966,220.67. Following the completion of the sale, the insider now owns 580,464 shares of the company’s stock, valued at approximately C$61,894,876.32.
About Magna International
Magna International Inc designs, engineers, and manufactures components, systems, and modules for original equipment manufacturers of vehicles worldwide. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. The Body Exteriors & Structures segment provides body systems and chassis systems; exterior systems, including fascia, front end modules, liftgate and door modules, and exterior design; and roof systems, such as sliding folding roofs, and retractable hard tops and soft tops.
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