Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities researchers at Cormark lifted their FY2020 earnings per share estimates for shares of Magna International in a research report issued on Wednesday, Zacks Investment Research reports. Cormark analyst D. Tyerman now expects that the company will post earnings per share of $11.71 for the year, up from their previous estimate of $11.67. Cormark also issued estimates for Magna International’s FY2021 earnings at $14.93 EPS.
Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results on Thursday, November 9th. The company reported C$1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$1.67 by C$0.04. Magna International had a net margin of 5.39% and a return on equity of 18.56%. The business had revenue of C$11.91 billion during the quarter, compared to analyst estimates of C$11.43 billion.
Separately, BMO Capital Markets set a C$61.00 target price on shares of Magna International and gave the stock a “market perform” rating in a report on Thursday, January 18th.
Magna International (MG) traded down C$0.59 during mid-day trading on Friday, hitting C$66.96. 2,000,000 shares of the stock traded hands, compared to its average volume of 1,030,000. Magna International has a 1 year low of C$52.63 and a 1 year high of C$74.75. The stock has a market capitalization of $23,990.00, a P/E ratio of 9.48 and a beta of 1.06.
In related news, insider Vincent Joseph Galifi sold 44,890 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of C$71.99, for a total transaction of C$3,231,631.10. Also, Director Donald James Walker sold 200,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of C$67.37, for a total transaction of C$13,474,000.00. Insiders sold 531,122 shares of company stock worth $36,350,412 in the last three months.
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About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.
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