Scotiabank Predicts Lower Earnings for Magna International

Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities researchers at Scotiabank dropped their FY2027 earnings estimates for Magna International in a note issued to investors on Thursday, July 23rd. Scotiabank analyst J. Goldman now anticipates that the company will post earnings of $10.51 per share for the year, down from their previous forecast of $10.77. Scotiabank currently has a “Strong-Buy” rating on the stock. 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 quarterly earnings results on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The company had revenue of C$14.43 billion for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%.

Separately, Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Magna International presently has an average rating of “Buy”.

Magna International Stock Down 2.7%

Magna International stock opened at C$92.59 on Friday. Magna International has a 1-year low of C$56.04 and a 1-year high of C$97.04. The firm has a market capitalization of C$25.21 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 0.45 and a beta of 2.13. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. The firm has a 50 day simple moving average of C$91.20 and a 200 day simple moving average of C$83.79.

Insider Buying and Selling

In other news, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$86.46, for a total value of C$1,706,028.72. Following the sale, the insider directly owned 30,470 shares of the company’s stock, valued at approximately C$2,634,436.20. This represents a 39.31% decrease in their ownership of the stock. Also, insider John Hugh Farrell sold 31,523 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total transaction of C$2,818,471.43. Following the completion of the transaction, the insider owned 50,020 shares of the company’s stock, valued at C$4,472,288.20. This trade represents a 38.66% decrease in their ownership of the stock. In the last ninety days, insiders have sold 150,405 shares of company stock valued at $13,505,134. Corporate insiders own 6.18% of the company’s stock.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were given a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. Magna International’s dividend payout ratio is currently 82.28%.

About Magna International

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 China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.