Magna International Inc. (MG) Forecasted to Post FY2017 Earnings of $7.48 Per Share

Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities research analysts at Cormark dropped their FY2017 earnings per share (EPS) estimates for shares of Magna International in a research note issued on Wednesday. Cormark analyst D. Tyerman now expects that the company will post earnings of $7.48 per share for the year, down from their prior estimate of $7.64. Cormark also issued estimates for Magna International’s Q1 2018 earnings at $2.17 EPS, Q2 2018 earnings at $2.23 EPS, Q3 2018 earnings at $1.91 EPS, Q4 2018 earnings at $2.17 EPS, FY2018 earnings at $8.49 EPS, Q1 2019 earnings at $2.52 EPS, Q2 2019 earnings at $2.62 EPS, Q3 2019 earnings at $2.26 EPS, Q4 2019 earnings at $2.57 EPS and FY2019 earnings at $9.96 EPS.

Separately, BMO Capital Markets set a C$61.00 target price on Magna International and gave the company a “market perform” rating in a research note on Thursday.

Shares of Magna International (MG) opened at C$72.90 on Thursday. The firm has a market capitalization of $26,170.00, a P/E ratio of 10.47 and a beta of 1.13. Magna International has a 52 week low of C$52.63 and a 52 week high of C$74.75.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results on Thursday, November 9th. The company reported C$1.71 earnings per share for the quarter, topping the consensus estimate of C$1.67 by C$0.04. Magna International had a return on equity of 18.56% and a net margin of 5.39%.

In other Magna International news, insider Marc Joseph Neeb sold 43,332 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of C$67.20, for a total transaction of C$2,911,910.40. Also, Director Donald James Walker sold 200,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of C$67.37, for a total value of C$13,474,000.00. Over the last quarter, insiders have sold 531,122 shares of company stock worth $36,350,412.

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Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.

Earnings History and Estimates for Magna International (TSE:MG)

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