Magna International Inc. to Post FY2018 Earnings of $7.00 Per Share, KeyCorp Forecasts (MGA)
Magna International Inc. (NYSE:MGA) (TSE:MG) – Analysts at KeyCorp issued their FY2018 earnings per share estimates for shares of Magna International in a research note issued on Tuesday. KeyCorp analyst B. Hoselton anticipates that the firm will post earnings of $7.00 per share for the year.
Magna International (NYSE:MGA) last released its earnings results on Thursday, November 3rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.09. Magna International had a net margin of 5.67% and a return on equity of 20.72%. The firm earned $8.85 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Magna International’s revenue was up 15.5% compared to the same quarter last year.
A number of other equities research analysts also recently weighed in on the stock. RBC Capital Markets reissued an “outperform” rating and issued a $73.00 price target on shares of Magna International in a report on Monday, October 24th. TD Securities reissued a “buy” rating and issued a $47.00 price target on shares of Magna International in a report on Saturday, October 29th. Macquarie reissued an “outperform” rating on shares of Magna International in a report on Friday, September 30th. Royal Bank Of Canada upped their price target on shares of Magna International from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Finally, Zacks Investment Research raised shares of Magna International from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $49.82.
Magna International (NYSE:MGA) opened at 40.61 on Friday. Magna International has a 12 month low of $30.41 and a 12 month high of $46.42. The firm’s 50-day moving average is $41.08 and its 200-day moving average is $39.86. The firm has a market capitalization of $15.61 billion, a PE ratio of 7.98 and a beta of 1.64.
Institutional investors have recently added to or reduced their stakes in the company. Smith Salley & Associates increased its position in Magna International by 19.0% in the second quarter. Smith Salley & Associates now owns 78,158 shares of the company’s stock worth $2,740,000 after buying an additional 12,467 shares in the last quarter. Manitou Investment Management Ltd. bought a new stake in shares of Magna International during the second quarter worth about $302,000. Prentiss Smith & Co. Inc. boosted its stake in shares of Magna International by 589.7% in the second quarter. Prentiss Smith & Co. Inc. now owns 174,921 shares of the company’s stock worth $6,134,000 after buying an additional 149,559 shares during the last quarter. Lingohr & Partner Asset Management GmbH boosted its stake in shares of Magna International by 7.8% in the second quarter. Lingohr & Partner Asset Management GmbH now owns 79,090 shares of the company’s stock worth $2,774,000 after buying an additional 5,700 shares during the last quarter. Finally, James Investment Research Inc. boosted its stake in shares of Magna International by 5.9% in the second quarter. James Investment Research Inc. now owns 1,523,704 shares of the company’s stock worth $53,436,000 after buying an additional 84,914 shares during the last quarter. Hedge funds and other institutional investors own 59.62% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. Magna International’s dividend payout ratio is currently 19.65%.
About Magna International
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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