Magna International (NYSE:MGA) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Magna International (NYSE:MGAGet Rating) (TSE:MG) announced its quarterly earnings data on Friday. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.18, MarketWatch Earnings reports. The company had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Magna International had a return on equity of 12.71% and a net margin of 4.18%. Magna International’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS.

Shares of NYSE:MGA traded down $1.85 during midday trading on Monday, hitting $58.42. 28,566 shares of the stock were exchanged, compared to its average volume of 1,612,717. The business’s 50-day moving average price is $63.47 and its 200 day moving average price is $75.27. Magna International has a 12 month low of $54.60 and a 12 month high of $104.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.80 and a beta of 1.48.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 3.08%. Magna International’s dividend payout ratio is currently 42.86%.

Several equities research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of Magna International from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 6th. Zacks Investment Research upgraded shares of Magna International from a “sell” rating to a “hold” rating and set a $84.00 price objective for the company in a research report on Wednesday, February 16th. Exane BNP Paribas assumed coverage on shares of Magna International in a research report on Monday, April 11th. They set an “underperform” rating for the company. Barclays cut their price objective on shares of Magna International from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. Finally, assumed coverage on shares of Magna International in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Magna International currently has an average rating of “Hold” and an average price target of $81.09.

A hedge fund recently raised its stake in Magna International stock. Advisors Asset Management Inc. increased its holdings in shares of Magna International Inc. (NYSE:MGAGet Rating) (TSE:MG) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,503 shares of the company’s stock after purchasing an additional 4,463 shares during the period. Advisors Asset Management Inc.’s holdings in Magna International were worth $1,902,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 62.57% of the company’s stock.

About Magna International (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.

See Also

Earnings History for Magna International (NYSE:MGA)

Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with's FREE daily email newsletter.