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

Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities researchers at Cormark boosted their Q1 2019 EPS estimates for shares of Magna International in a report issued on Wednesday, October 31st. Cormark analyst D. Tyerman now expects that the company will earn $2.72 per share for the quarter, up from their prior estimate of $2.68. Cormark also issued estimates for Magna International’s Q2 2019 earnings at $2.63 EPS, Q3 2019 earnings at $2.40 EPS and FY2019 earnings at $10.56 EPS.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Wednesday, August 8th. The company reported C$2.14 EPS for the quarter, missing the Zacks’ consensus estimate of C$2.21 by C($0.07). The business had revenue of C$13.27 billion during the quarter, compared to analyst estimates of C$13.77 billion. Magna International had a net margin of 5.28% and a return on equity of 19.24%.

Separately, Wolfe Research restated an “outperform” rating and set a C$67.00 price objective on shares of Magna International in a research report on Tuesday, October 2nd.

Shares of TSE MG traded down C$0.29 during mid-day trading on Friday, reaching C$66.03. The company’s stock had a trading volume of 330,918 shares, compared to its average volume of 1,077,382. Magna International has a 1-year low of C$59.93 and a 1-year high of C$87.13.

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.

Read More: Price to Earnings Ratio (PE) Basics

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

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