Q1 2021 EPS Estimates for Magna International Inc. Lowered by Analyst (NYSE:MGA)

Magna International Inc. (NYSE:MGA) (TSE:MG) – Equities researchers at Raymond James decreased their Q1 2021 earnings per share (EPS) estimates for shares of Magna International in a research note issued to investors on Thursday, April 29th. Raymond James analyst M. Glen now anticipates that the company will earn $1.58 per share for the quarter, down from their prior forecast of $1.70. Raymond James currently has a “Market Perform” rating and a $85.00 target price on the stock. Raymond James also issued estimates for Magna International’s Q2 2021 earnings at $1.62 EPS and FY2021 earnings at $7.25 EPS.

A number of other research analysts have also issued reports on the company. KeyCorp boosted their price target on Magna International from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Wells Fargo & Company assumed coverage on shares of Magna International in a research report on Wednesday, March 31st. They issued an “equal weight” rating and a $96.00 target price for the company. Morgan Stanley upgraded shares of Magna International from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $61.00 to $96.00 in a research report on Tuesday, April 20th. TD Securities increased their price objective on shares of Magna International from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Finally, Barclays upgraded shares of Magna International from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 15th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $85.40.

Shares of MGA stock opened at $92.81 on Monday. Magna International has a 12-month low of $34.82 and a 12-month high of $99.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.29 and a quick ratio of 0.91. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of 63.14, a price-to-earnings-growth ratio of 2.35 and a beta of 1.61. The business has a 50 day simple moving average of $92.09 and a 200 day simple moving average of $75.15.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Thursday, February 18th. The company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.80. Magna International had a net margin of 1.46% and a return on equity of 7.31%. The firm had revenue of $10.57 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the business posted $1.41 EPS. Magna International’s revenue was up 12.5% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGA. Carroll Financial Associates Inc. acquired a new position in shares of Magna International in the first quarter worth about $35,000. Liberty Wealth Management LLC acquired a new position in Magna International in the 4th quarter worth approximately $50,000. Parallel Advisors LLC grew its position in Magna International by 38.8% during the 1st quarter. Parallel Advisors LLC now owns 597 shares of the company’s stock worth $53,000 after purchasing an additional 167 shares in the last quarter. IFP Advisors Inc raised its stake in Magna International by 147.6% during the 1st quarter. IFP Advisors Inc now owns 921 shares of the company’s stock valued at $81,000 after purchasing an additional 549 shares during the period. Finally, Distillate Capital Partners LLC purchased a new stake in shares of Magna International in the fourth quarter valued at $101,000. Hedge funds and other institutional investors own 59.46% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Friday, March 5th were given a $0.43 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, March 4th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.85%. Magna International’s dividend payout ratio (DPR) is 19.83%.

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. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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Earnings History and Estimates for Magna International (NYSE:MGA)

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