Q1 2019 EPS Estimates for Magna International Inc. (MG) Cut by Cormark

Magna International Inc. (TSE:MG) (NYSE:MGA) – Cormark decreased their Q1 2019 earnings per share estimates for Magna International in a report released on Monday, June 18th. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $2.71 for the quarter, down from their prior estimate of $2.71. Cormark also issued estimates for Magna International’s Q4 2019 earnings at $2.71 EPS.

TSE:MG opened at C$84.25 on Wednesday. Magna International has a 12 month low of C$57.47 and a 12 month high of C$87.13.

Magna International (TSE:MG) (NYSE:MGA) last posted its earnings results on Thursday, May 10th. The company reported C$2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.10 by C$0.23. Magna International had a net margin of 5.28% and a return on equity of 19.24%. The firm had revenue of C$13.64 billion during the quarter, compared to analysts’ expectations of C$12.69 billion.

In related news, insider Francis Seguin sold 75,886 shares of the stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of C$84.58, for a total value of C$6,418,437.88. Also, insider Sr. James Joseph Tobin sold 10,778 shares of the stock in a transaction dated Monday, March 26th. The stock was sold at an average price of C$55.12, for a total transaction of C$594,083.36. Over the last ninety days, insiders sold 220,284 shares of company stock valued at $17,076,057.

The business also recently announced a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 1.57%.

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 body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

Earnings History and Estimates for Magna International (TSE:MG)

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