Magna International Inc. (NYSE:MGA) Expected to Post Quarterly Sales of $8.97 Billion

Wall Street analysts expect Magna International Inc. (NYSE:MGA – Get Rating) (TSE:MG) to announce $8.97 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Magna International’s earnings, with the highest sales estimate coming in at $9.08 billion and the lowest estimate coming in at $8.83 billion. Magna International posted sales of $10.18 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 11.9%. The company is scheduled to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Magna International will report full-year sales of $38.43 billion for the current financial year, with estimates ranging from $37.77 billion to $38.82 billion. For the next fiscal year, analysts forecast that the business will report sales of $42.72 billion, with estimates ranging from $42.11 billion to $43.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Magna International.

Magna International (NYSE:MGA – Get Rating) (TSE:MG) last posted its quarterly earnings data on Friday, February 11th. The company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.47. Magna International had a return on equity of 12.71% and a net margin of 4.18%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the company earned $2.83 EPS. The firm’s revenue was down 13.8% compared to the same quarter last year.

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Magna International in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised Magna International from a “sell” rating to a “hold” rating and set a $84.00 target price for the company in a research note on Wednesday, February 16th. Benchmark cut their target price on Magna International from $98.00 to $92.00 in a research note on Monday, February 14th. BMO Capital Markets downgraded Magna International from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $89.00 to $63.00 in a research note on Monday, March 7th. Finally, TheStreet downgraded Magna International from a “b” rating to a “c+” rating in a research report on Friday, April 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Magna International currently has a consensus rating of “Hold” and an average target price of $84.08.

Shares of MGA opened at $63.57 on Wednesday. Magna International has a 52-week low of $54.60 and a 52-week high of $104.28. The company has a market capitalization of $18.62 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.79 and a beta of 1.48. The stock has a fifty day simple moving average of $66.07 and a two-hundred day simple moving average of $76.35. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 0.29.

The company also recently announced a quarterly dividend, which was paid on Friday, March 11th. Investors of record on Friday, February 25th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.83%. This is a boost from Magna International’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, February 24th. Magna International’s dividend payout ratio (DPR) is 35.93%.

A number of institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in Magna International by 5.7% during the 4th quarter. Toronto Dominion Bank now owns 1,736,285 shares of the company’s stock valued at $140,482,000 after acquiring an additional 93,128 shares during the period. Turtle Creek Asset Management Inc. boosted its holdings in Magna International by 3.1% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 1,578,300 shares of the company’s stock valued at $127,748,000 after acquiring an additional 48,050 shares during the period. Sound Shore Management Inc CT boosted its holdings in Magna International by 22.7% during the 4th quarter. Sound Shore Management Inc CT now owns 1,365,824 shares of the company’s stock valued at $110,550,000 after acquiring an additional 252,299 shares during the period. AGF Investments Inc. boosted its holdings in Magna International by 48.3% during the 3rd quarter. AGF Investments Inc. now owns 1,068,399 shares of the company’s stock valued at $80,404,000 after acquiring an additional 348,205 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Magna International by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 873,639 shares of the company’s stock valued at $65,733,000 after acquiring an additional 15,549 shares during the period. Institutional investors own 59.85% of the company’s stock.

Magna International Company Profile (Get Rating)

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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