Q3 2024 EPS Estimates for Magna International Inc. (TSE:MG) Cut by Raymond James

Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities researchers at Raymond James decreased their Q3 2024 earnings per share estimates for shares of Magna International in a report released on Monday, May 6th. Raymond James analyst M. Glen now expects that the company will earn $2.10 per share for the quarter, down from their previous forecast of $2.15. The consensus estimate for Magna International’s current full-year earnings is $8.16 per share. Raymond James also issued estimates for Magna International’s Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $7.65 EPS, Q1 2025 earnings at $2.30 EPS, Q2 2025 earnings at $2.49 EPS, Q3 2025 earnings at $2.39 EPS, Q4 2025 earnings at $2.30 EPS and FY2025 earnings at $9.47 EPS.

Separately, Royal Bank of Canada decreased their target price on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th.

Magna International Stock Up 1.1 %

TSE MG opened at C$64.64 on Wednesday. Magna International has a one year low of C$62.84 and a one year high of C$87.00. The company has a debt-to-equity ratio of 66.45, a quick ratio of 0.83 and a current ratio of 1.09. The business has a fifty day moving average price of C$70.37 and a 200 day moving average price of C$73.02. The company has a market cap of C$18.57 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.58 and a beta of 1.68.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 9th. The company reported C$1.81 earnings per share for the quarter, missing the consensus estimate of C$1.99 by C($0.18). The firm had revenue of C$14.23 billion during the quarter, compared to analysts’ expectations of C$14.30 billion. Magna International had a net margin of 2.35% and a return on equity of 9.35%.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be paid a dividend of $0.642 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Magna International’s previous quarterly dividend of $0.64. This represents a $2.57 dividend on an annualized basis and a yield of 3.97%. Magna International’s payout ratio is 53.11%.

Insider Buying and Selling at Magna International

In other news, Senior Officer Boris Shulkin sold 4,646 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total value of C$255,762.30. In other news, Senior Officer Boris Shulkin sold 4,646 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$55.05, for a total value of C$255,762.30. Also, Director Seetarama Swamy Kotagiri sold 20,906 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. Insiders have sold 34,844 shares of company stock worth $1,887,403 in the last ninety days. 6.19% of the stock is owned by insiders.

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.