Magna International Inc. (NYSE:MGA - Free Report) TSE: MG - Research analysts at Raymond James cut their Q4 2024 earnings estimates for shares of Magna International in a note issued to investors on Monday, November 4th. Raymond James analyst M. Glen now expects that the company will earn $1.35 per share for the quarter, down from their prior estimate of $1.49. Raymond James has a "Market Perform" rating and a $53.00 price objective on the stock. The consensus estimate for Magna International's current full-year earnings is $5.30 per share.
A number of other research firms have also recently weighed in on MGA. Barclays dropped their target price on shares of Magna International from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group dropped their price objective on Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 1st. Evercore lowered their target price on Magna International from $60.00 to $50.00 and set an "in-line" rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada cut their price target on Magna International from $42.00 to $41.00 and set a "sector perform" rating for the company in a research note on Monday. Finally, BMO Capital Markets lowered their price objective on Magna International from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Magna International has an average rating of "Hold" and a consensus target price of $49.76.
View Our Latest Stock Analysis on Magna International
Magna International Stock Performance
Shares of NYSE MGA traded down $0.45 during mid-day trading on Wednesday, reaching $42.13. 2,038,538 shares of the company's stock were exchanged, compared to its average volume of 1,432,537. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 0.68 and a beta of 1.59. The firm has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $43.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a 52 week low of $38.01 and a 52 week high of $60.32.
Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business had revenue of $10.28 billion for the quarter, compared to analysts' expectations of $10.34 billion. During the same period in the previous year, the business posted $1.46 earnings per share. The business's revenue was down 3.8% compared to the same quarter last year.
Magna International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, November 15th. Magna International's payout ratio is 50.80%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new position in shares of Magna International in the 3rd quarter worth about $32,000. Van ECK Associates Corp boosted its stake in Magna International by 6.6% in the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company's stock worth $517,000 after buying an additional 766 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Magna International by 11.4% during the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company's stock valued at $8,644,000 after acquiring an additional 21,532 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Magna International during the third quarter worth approximately $216,000. Finally, Forsta AP Fonden lifted its holdings in shares of Magna International by 20.3% in the 3rd quarter. Forsta AP Fonden now owns 84,300 shares of the company's stock worth $3,462,000 after acquiring an additional 14,200 shares during the last quarter. Institutional investors own 67.49% of the company's stock.
About Magna International
(
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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.
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