Scotiabank Forecasts Lower Earnings for Magna International

Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities researchers at Scotiabank lowered their FY2027 earnings estimates for Magna International in a report issued on Thursday, October 22nd. Scotiabank analyst J. Goldman now forecasts that the company will post earnings per share of $10.92 for the year, down from their prior forecast of $11.13. The consensus estimate for Magna International’s current full-year earnings is $8.89 per share.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Friday, July 31st. The company reported C$2.64 EPS for the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%. The firm had revenue of C$15.60 billion for the quarter.

A number of other research analysts have also issued reports on MG. Canadian Imperial Bank of Commerce lowered Magna International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. BMO Capital Markets downgraded shares of Magna International from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Magna International Trading Up 0.1%

Shares of Magna International stock opened at C$89.58 on Tuesday. The business has a fifty day simple moving average of C$92.06 and a 200-day simple moving average of C$86.80. Magna International has a fifty-two week low of C$62.46 and a fifty-two week high of C$101.10. The firm has a market cap of C$23.96 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 0.45 and a beta of 2.02. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 55.07.

Insider Buying and Selling at Magna International

In other Magna International news, insider Bruce Cluney sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of C$95.22, for a total value of C$476,100.00. Following the completion of the transaction, the insider directly owned 40,239 shares in the company, valued at C$3,831,557.58. This trade represents a 11.05% decrease in their ownership of the stock. 6.18% of the stock is owned by company insiders.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were given a $0.4950 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. Magna International’s dividend payout ratio (DPR) is 72.06%.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and Asia. With operations in 28 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.