Magna International Inc. (MGA) Expected to Post Quarterly Sales of $10.35 Billion

Brokerages predict that Magna International Inc. (NYSE:MGA) (TSE:MG) will announce sales of $10.35 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Magna International’s earnings, with the highest sales estimate coming in at $10.64 billion and the lowest estimate coming in at $9.86 billion. Magna International posted sales of $9.25 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.9%. The business is expected to report its next quarterly earnings results on Friday, February 23rd.

On average, analysts expect that Magna International will report full year sales of $10.35 billion for the current fiscal year, with estimates ranging from $36.61 billion to $39.19 billion. For the next fiscal year, analysts forecast that the firm will report sales of $40.40 billion per share. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Magna International.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.05. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.26 billion. Magna International had a net margin of 5.63% and a return on equity of 19.46%. Magna International’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS.

A number of equities analysts have recently issued reports on the stock. TD Securities downgraded shares of Magna International from a “buy” rating to a “hold” rating and increased their price target for the company from $62.00 to $65.00 in a report on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $61.00 price target on shares of Magna International in a report on Thursday. Royal Bank of Canada increased their price target on shares of Magna International from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, January 17th. Scotiabank increased their price target on shares of Magna International from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 17th. Finally, KeyCorp reiterated a “buy” rating on shares of Magna International in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $61.54.

A number of large investors have recently bought and sold shares of the business. Schroder Investment Management Group increased its holdings in Magna International by 2.5% during the 3rd quarter. Schroder Investment Management Group now owns 1,166,272 shares of the company’s stock valued at $77,207,000 after acquiring an additional 28,024 shares in the last quarter. Becker Capital Management Inc. increased its holdings in Magna International by 2.0% during the 3rd quarter. Becker Capital Management Inc. now owns 804,100 shares of the company’s stock valued at $42,923,000 after acquiring an additional 15,515 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Magna International by 13.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock valued at $33,636,000 after acquiring an additional 72,588 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Magna International by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 515,565 shares of the company’s stock valued at $27,521,000 after acquiring an additional 5,999 shares in the last quarter. Finally, Marathon Asset Management LLP increased its holdings in Magna International by 0.4% during the 4th quarter. Marathon Asset Management LLP now owns 398,117 shares of the company’s stock valued at $22,637,000 after acquiring an additional 1,705 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

Magna International (MGA) opened at $58.28 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market cap of $21,030.92, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49. Magna International has a 12-month low of $39.50 and a 12-month high of $59.99.

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About Magna International

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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Earnings History and Estimates for Magna International (NYSE:MGA)

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