Magnera (NYSE:MAGN) Announces Earnings Results

Magnera (NYSE:MAGN) posted its quarterly earnings data on Thursday. The company reported ($1.69) earnings per share for the quarter, Zacks reports. Magnera had a negative net margin of 5.08% and a negative return on equity of 17.71%. During the same quarter in the prior year, the business posted ($0.25) EPS.

Magnera Stock Performance

Shares of NYSE MAGN traded up $0.46 during mid-day trading on Thursday, reaching $20.05. The company had a trading volume of 855,369 shares, compared to its average volume of 439,422. Magnera has a 1-year low of $15.80 and a 1-year high of $35.23. The stock has a market capitalization of $70.18 million, a price-to-earnings ratio of -1.05 and a beta of 1.67. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company started coverage on shares of Magnera in a research note on Thursday, January 23rd. They set an “overweight” rating and a $22.00 target price for the company.

Magnera Company Profile

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.