Raymond James Research Analysts Raise Earnings Estimates for Magna International Inc. (TSE:MG)

Magna International Inc. (TSE:MG) (NYSE:MGA) – Analysts at Raymond James boosted their FY2024 EPS estimates for Magna International in a note issued to investors on Monday, November 6th. Raymond James analyst M. Glen now anticipates that the company will post earnings per share of $9.37 for the year, up from their previous forecast of $8.30. The consensus estimate for Magna International’s current full-year earnings is $9.36 per share.

Separately, Royal Bank of Canada boosted their target price on shares of Magna International from C$57.00 to C$58.00 and gave the stock a “sector perform” rating in a research report on Monday.

Magna International Stock Performance

Shares of MG opened at C$71.46 on Wednesday. The company’s 50 day moving average price is C$73.14 and its 200 day moving average price is C$74.23. Magna International has a 52 week low of C$64.41 and a 52 week high of C$91.74. The company has a market capitalization of C$20.45 billion, a PE ratio of 14.35, a PEG ratio of 0.58 and a beta of 1.68. The company has a debt-to-equity ratio of 61.33, a quick ratio of 0.83 and a current ratio of 1.11.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, December 1st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, November 16th. Magna International’s dividend payout ratio (DPR) is presently 51.20%.

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.