Raymond James Has Negative Outlook of TSE:MG FY2024 Earnings

Magna International Inc. (TSE:MG) (NYSE:MGA) – Stock analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for Magna International in a note issued to investors on Monday, November 4th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $7.01 for the year, down from their previous forecast of $7.60. The consensus estimate for Magna International’s current full-year earnings is $8.89 per share. Raymond James also issued estimates for Magna International’s Q1 2025 earnings at $2.13 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.08 EPS and Q4 2025 earnings at $2.07 EPS.

Several other research analysts have also issued reports on MG. Royal Bank of Canada lowered shares of Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Wolfe Research upgraded Magna International to a “strong sell” rating in a report on Thursday, September 5th.

Magna International Trading Down 0.4 %

Shares of TSE:MG opened at C$58.69 on Tuesday. The company has a 50 day moving average of C$56.55 and a 200-day moving average of C$59.09. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 62.12. The firm has a market cap of C$16.86 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.45 and a beta of 1.60. Magna International has a twelve month low of C$51.79 and a twelve month high of C$79.98.

Magna International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, November 15th. Magna International’s dividend payout ratio is 54.01%.

Magna International Company Profile

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.