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

Magna International Inc. (TSE:MGFree Report) (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.

View Our Latest Report on Magna International

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

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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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Earnings History and Estimates for Magna International (TSE:MG)

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