Magna International (MGA) to Release Quarterly Earnings on Friday

Magna International (NYSE:MGAGet Free Report) (TSE:MG) will announce its earnings results before the market opens on Friday, February 9th. Analysts expect the company to announce earnings of $1.42 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last posted its quarterly earnings data on Friday, November 3rd. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.12. The firm had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Magna International had a net margin of 2.47% and a return on equity of 12.36%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 EPS. On average, analysts expect Magna International to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Magna International Trading Up 1.2 %

MGA opened at $57.54 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $16.49 billion, a PE ratio of 15.94, a PEG ratio of 0.46 and a beta of 1.73. Magna International has a 1-year low of $46.71 and a 1-year high of $68.92. The firm has a 50-day moving average price of $56.34 and a two-hundred day moving average price of $55.99.

Hedge Funds Weigh In On Magna International

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Magna International by 5.0% during the 3rd quarter. Rhumbline Advisers now owns 4,773 shares of the company’s stock worth $256,000 after buying an additional 226 shares in the last quarter. Azimuth Capital Investment Management LLC increased its holdings in Magna International by 0.6% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 103,655 shares of the company’s stock worth $5,553,000 after purchasing an additional 635 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in Magna International by 323.5% in the 2nd quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock worth $48,000 after purchasing an additional 647 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in Magna International by 0.5% in the 2nd quarter. State of Tennessee Treasury Department now owns 153,457 shares of the company’s stock worth $8,673,000 after purchasing an additional 797 shares in the last quarter. Finally, Thomas White International Ltd. increased its holdings in Magna International by 8.6% in the 1st quarter. Thomas White International Ltd. now owns 13,142 shares of the company’s stock worth $845,000 after purchasing an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 62.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MGA shares. JPMorgan Chase & Co. lowered their price target on shares of Magna International from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. The Goldman Sachs Group cut shares of Magna International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $73.00 to $58.00 in a research report on Wednesday, January 3rd. Barclays lowered their price target on shares of Magna International from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. UBS Group lifted their price target on shares of Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Evercore lifted their price target on shares of Magna International from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Magna International has an average rating of “Hold” and a consensus target price of $66.67.

Check Out Our Latest Stock Report on MGA

About Magna International

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Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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Earnings History for Magna International (NYSE:MGA)

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