Magna International Inc. (TSE:MG - Free Report) NYSE: MGA - Stock analysts at Raymond James cut their FY2024 EPS estimates for Magna International in a research note issued to investors on Monday, November 4th. Raymond James analyst M. Glen now forecasts that the company will earn $7.01 per share for the year, down from their previous forecast of $7.60. The consensus estimate for Magna International's current full-year earnings is $8.89 per share. Raymond James also issued estimates for Magna International's Q1 2025 earnings at $2.13 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.08 EPS and Q4 2025 earnings at $2.07 EPS.
Magna International (TSE:MG - Get Free Report) NYSE: MGA last released its earnings results on Friday, August 2nd. The company reported C$1.85 earnings per share for the quarter, missing the consensus estimate of C$1.99 by C($0.14). Magna International had a net margin of 2.29% and a return on equity of 9.03%. The business had revenue of C$14.99 billion for the quarter, compared to the consensus estimate of C$15.22 billion.
MG has been the subject of a number of other reports. Royal Bank of Canada lowered shares of Magna International from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Wolfe Research upgraded Magna International to a "strong sell" rating in a research report on Thursday, September 5th.
Check Out Our Latest Stock Analysis on MG
Magna International Stock Performance
TSE MG traded up C$0.29 during trading hours on Tuesday, reaching C$58.90. The company's stock had a trading volume of 1,582,064 shares, compared to its average volume of 1,233,564. The stock has a market cap of C$16.92 billion, a PE ratio of 12.36, a PEG ratio of 0.45 and a beta of 1.60. The business has a 50-day simple moving average of C$56.50 and a 200 day simple moving average of C$59.21. Magna International has a 52 week low of C$51.79 and a 52 week high of C$79.98. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 62.12.
Magna International Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 3.23%. Magna International's payout ratio is presently 54.01%.
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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