Magna International (MG) Set to Announce Earnings on Friday

Magna International (TSE:MG) (NYSE:MGA) is set to issue its quarterly earnings data before the market opens on Friday, November 1st. Analysts expect the company to announce earnings of C$2.11 per share for the quarter.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Friday, August 2nd. The company reported C$1.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.14). Magna International had a return on equity of 9.03% and a net margin of 2.29%. The company had revenue of C$14.99 billion during the quarter, compared to analysts’ expectations of C$15.22 billion.

Magna International Stock Performance

TSE MG opened at C$57.45 on Thursday. The company has a market capitalization of C$16.51 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a quick ratio of 0.83 and a current ratio of 1.12. Magna International has a 52-week low of C$51.79 and a 52-week high of C$79.98. The company has a 50-day simple moving average of C$56.41 and a 200 day simple moving average of C$59.32.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.65 per share. The ex-dividend date was Friday, August 16th. This represents a $2.60 annualized dividend and a dividend yield of 4.53%. This is a positive change from Magna International’s previous quarterly dividend of $0.64. Magna International’s dividend payout ratio (DPR) is presently 54.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MG shares. Wolfe Research raised Magna International to a “strong sell” rating in a report on Thursday, September 5th. Royal Bank of Canada cut Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

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.