Magna International (MGA) to Release Quarterly Earnings on Friday

Magna International (NYSE:MGA - Get Free Report) TSE: MG will release its earnings data before the market opens on Friday, November 1st. Analysts expect Magna International to post earnings of $1.54 per share for the quarter. Magna International has set its FY 2024 guidance at EPS.Investors interested in registering for the company's conference call can do so using this link.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The firm's revenue for the quarter was down .2% on a year-over-year basis. 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

Shares of MGA stock traded down $0.13 on Friday, reaching $41.98. The company's stock had a trading volume of 1,561,536 shares, compared to its average volume of 1,584,257. The company has a market capitalization of $12.06 billion, a P/E ratio of 12.24, a PEG 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 stock's 50 day simple moving average is $41.34 and its 200-day simple moving average is $43.51. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.475 per share. The ex-dividend date was Friday, August 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.53%. Magna International's dividend payout ratio (DPR) is presently 55.39%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MGA. TD Securities dropped their price objective on shares of Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a report on Monday, September 30th. Evercore ISI dropped their target price on Magna International from $60.00 to $50.00 and set an "in-line" rating for the company in a research report on Monday, July 15th. Citigroup reduced their price target on shares of Magna International from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, July 12th. Evercore lowered their price objective on shares of Magna International from $60.00 to $50.00 and set an "in-line" rating for the company in a report on Monday, July 15th. Finally, The Goldman Sachs Group cut their price target on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $49.94.

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.