Magna International Inc. (MG) Forecasted to Post Q1 2019 Earnings of $2.33 Per Share
Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities research analysts at Seaport Global Securities issued their Q1 2019 earnings per share estimates for shares of Magna International in a research note issued on Tuesday, April 16th. Seaport Global Securities analyst M. Ward forecasts that the company will post earnings of $2.33 per share for the quarter. Seaport Global Securities also issued estimates for Magna International’s Q2 2019 earnings at $2.49 EPS, Q3 2019 earnings at $2.30 EPS, Q4 2019 earnings at $2.51 EPS, FY2019 earnings at $9.63 EPS, Q1 2020 earnings at $2.57 EPS, Q2 2020 earnings at $2.81 EPS, Q3 2020 earnings at $2.54 EPS, Q4 2020 earnings at $2.80 EPS, FY2020 earnings at $10.70 EPS and FY2021 earnings at $12.03 EPS.
MG has been the topic of several other research reports. JPMorgan Chase & Co. cut shares of Magna International from a “neutral” rating to an “underweight” rating and increased their price target for the stock from C$66.00 to C$67.00 in a research report on Monday, February 25th. CIBC increased their price target on shares of Magna International from C$60.00 to C$63.00 in a research report on Monday, February 25th. Finally, BMO Capital Markets cut shares of Magna International from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 21st.
Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 22nd. The company reported C$2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.13 by C$0.02. The business had revenue of C$13.40 billion for the quarter, compared to analysts’ expectations of C$13.45 billion.
In related news, Senior Officer James Joseph Tobin Sr. sold 5,002 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$65.06, for a total transaction of C$325,444.13. Following the completion of the sale, the insider now directly owns 60,585 shares of the company’s stock, valued at C$3,941,829.74. Also, Director Tommy Joseph Skudutis sold 56,411 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of C$71.03, for a total value of C$4,006,873.33. Following the sale, the director now directly owns 9,574 shares of the company’s stock, valued at C$680,041.22. Insiders sold 131,913 shares of company stock worth $9,262,382 over the last quarter.
The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.479 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.33. This represents a $1.92 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, March 7th. Magna International’s dividend payout ratio is currently 19.97%.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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