Raymond James Has Pessimistic Outlook of MGA Q4 Earnings

Magna International Inc. (NYSE:MGA) (TSE:MG) – Investment analysts at Raymond James dropped their Q4 2024 earnings per share estimates for shares of Magna International in a report issued on Monday, November 4th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $1.35 for the quarter, down from their previous estimate of $1.49. Raymond James has a “Market Perform” rating and a $53.00 price objective on the stock. The consensus estimate for Magna International’s current full-year earnings is $5.30 per share.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada decreased their target price on Magna International from $42.00 to $41.00 and set a “sector perform” rating for the company in a report on Monday. Wolfe Research restated an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. Citigroup cut their price target on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. lowered their target price on Magna International from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, CIBC reduced their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Magna International currently has a consensus rating of “Hold” and an average price target of $49.76.

Magna International Stock Down 1.1 %

NYSE:MGA opened at $42.13 on Wednesday. The company’s 50 day moving average is $41.34 and its two-hundred day moving average is $43.02. The company has a market cap of $12.11 billion, a PE ratio of 11.26, a P/E/G ratio of 0.68 and a beta of 1.59. Magna International has a twelve month low of $38.01 and a twelve month high of $60.32. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. Magna International’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share.

Institutional Trading of Magna International

A number of hedge funds have recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in shares of Magna International in the first quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International during the 2nd quarter valued at approximately $28,000. Kennebec Savings Bank acquired a new position in Magna International in the third quarter valued at approximately $32,000. Grove Bank & Trust grew its position in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after acquiring an additional 343 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after acquiring an additional 513 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Friday, November 15th. Magna International’s dividend payout ratio (DPR) is 50.80%.

Magna International Company Profile

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.