FY2024 EPS Estimates for TSE:MG Lowered by Raymond James

Magna International Inc. (TSE:MG) (NYSE:MGA) – Raymond James reduced their FY2024 earnings estimates for shares of Magna International in a note issued to investors on Monday, November 4th. Raymond James analyst M. Glen now forecasts that the company will earn $7.01 per share for the year, down from their prior forecast of $7.60. The consensus estimate for Magna International’s current full-year earnings is $8.89 per share. Raymond James also issued estimates for Magna International’s Q1 2025 earnings at $2.13 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.08 EPS and Q4 2025 earnings at $2.07 EPS.

MG has been the topic of several other research reports. Wolfe Research raised Magna International to a “strong sell” rating in a research report on Thursday, September 5th. Royal Bank of Canada downgraded Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Magna International Trading Up 0.5 %

MG opened at C$58.90 on Tuesday. The company has a debt-to-equity ratio of 62.12, a current ratio of 1.12 and a quick ratio of 0.83. The company’s 50-day moving average is C$56.53 and its 200 day moving average is C$59.15. The firm has a market capitalization of C$16.92 billion, a PE ratio of 12.43, a P/E/G ratio of 0.45 and a beta of 1.60. Magna International has a fifty-two week low of C$51.79 and a fifty-two week high of C$79.98.

Magna International Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, November 15th. Magna International’s dividend payout ratio is currently 54.01%.

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.