Wall Street brokerages predict that Magna International Inc. (NYSE:MGA) (TSE:MG) will post sales of $10.09 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Magna International’s earnings. The highest sales estimate is $10.30 billion and the lowest is $9.91 billion. Magna International reported sales of $10.39 billion in the same quarter last year, which would indicate a negative year over year growth rate of 2.9%. The firm is expected to report its next earnings report before the market opens on Friday, February 22nd.
According to Zacks, analysts expect that Magna International will report full year sales of $40.69 billion for the current financial year, with estimates ranging from $40.40 billion to $40.99 billion. For the next year, analysts anticipate that the firm will report sales of $41.30 billion, with estimates ranging from $41.11 billion to $41.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Magna International.
Get Magna International alerts:Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Thursday, November 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.62 billion. Magna International had a net margin of 5.83% and a return on equity of 19.98%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 EPS.
Several research analysts recently commented on MGA shares. TD Securities lifted their target price on shares of Magna International from $57.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, November 9th. KeyCorp started coverage on shares of Magna International in a report on Monday, December 10th. They issued a “sector weight” rating on the stock. Zacks Investment Research downgraded shares of Magna International from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Barclays reiterated a “hold” rating and issued a $50.00 target price on shares of Magna International in a report on Sunday, January 6th. Finally, ValuEngine upgraded shares of Magna International from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $64.69.
Several large investors have recently bought and sold shares of the company. Community Bank N.A. acquired a new stake in shares of Magna International during the 4th quarter valued at about $33,000. Legacy Advisors LLC acquired a new stake in shares of Magna International during the 3rd quarter valued at about $131,000. We Are One Seven LLC acquired a new stake in shares of Magna International during the 4th quarter valued at about $133,000. Quadrant Capital Group LLC boosted its position in shares of Magna International by 279.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,155 shares of the company’s stock valued at $136,000 after acquiring an additional 2,324 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Magna International during the 3rd quarter valued at about $190,000. Institutional investors own 60.15% of the company’s stock.
MGA traded down $0.49 during trading on Friday, hitting $52.42. The stock had a trading volume of 810,033 shares, compared to its average volume of 1,088,614. The company has a market capitalization of $17.16 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.42. Magna International has a 12 month low of $42.88 and a 12 month high of $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.86.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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