Scotiabank Boosts Earnings Estimates for Magna International

Magna International Inc. (TSE:MG - Free Report) NYSE: MGA - Equities research analysts at Scotiabank raised their FY2024 earnings per share estimates for shares of Magna International in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will post earnings per share of $7.75 for the year, up from their prior estimate of $7.36. The consensus estimate for Magna International's current full-year earnings is $8.89 per share. Scotiabank also issued estimates for Magna International's FY2025 earnings at $9.33 EPS.

Several other equities analysts have also weighed in on MG. The Goldman Sachs Group lowered shares of Magna International from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 11th. Wolfe Research raised Magna International from a "strong sell" rating to a "hold" rating in a research report on Thursday, December 5th.

Magna International Trading Up 2.0 %

TSE:MG traded up C$1.14 on Monday, hitting C$58.15. 165,962 shares of the stock were exchanged, compared to its average volume of 800,130. The stock has a fifty day moving average of C$61.15 and a 200-day moving average of C$58.54. The stock has a market cap of C$16.71 billion, a PE ratio of 12.27, a PEG ratio of 0.45 and a beta of 1.60. 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 has a fifty-two week low of C$51.79 and a fifty-two week high of C$79.98.

Magna International Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were paid a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 3.27%. Magna International's dividend payout ratio (DPR) is presently 54.01%.

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