Magna International (MG) Scheduled to Post Quarterly Earnings on Friday

Magna International (TSE:MG) (NYSE:MGA) is set to issue its quarterly earnings data before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of C$1.20 per share for the quarter.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Friday, February 9th. The company reported C$1.81 earnings per share for the quarter, missing the consensus estimate of C$1.99 by C($0.18). Magna International had a return on equity of 10.89% and a net margin of 2.83%. The business had revenue of C$14.23 billion for the quarter, compared to analysts’ expectations of C$14.30 billion.

Magna International Stock Down 2.5 %

Shares of MG stock opened at C$65.80 on Wednesday. Magna International has a 1-year low of C$64.41 and a 1-year high of C$87.00. The stock’s fifty day moving average price is C$71.24 and its 200 day moving average price is C$73.24. The company has a debt-to-equity ratio of 58.83, a current ratio of 1.06 and a quick ratio of 0.83. The company has a market cap of C$18.90 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.638 per share. This represents a $2.55 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Magna International’s previous quarterly dividend of $0.46. Magna International’s payout ratio is presently 44.76%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada dropped their price target on Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th.

Insider Buying and Selling at Magna International

In other Magna International news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. In other news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. Also, Senior Officer Bruce Cluney sold 9,292 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$54.15, for a total value of C$503,164.59. In the last 90 days, insiders have sold 34,844 shares of company stock worth $1,887,403. 6.10% of the stock is currently owned by insiders.

About Magna International

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.