Magna International Inc. (TSE:MG) (NYSE:MGA) – Analysts at Cormark increased their FY2020 earnings per share (EPS) estimates for Magna International in a report released on Wednesday, Zacks Investment Research reports. Cormark analyst D. Tyerman now forecasts that the company will earn $11.71 per share for the year, up from their prior forecast of $11.67. Cormark also issued estimates for Magna International’s FY2021 earnings at $14.93 EPS.
Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Thursday, November 9th. The company reported C$1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$1.67 by C$0.04. Magna International had a return on equity of 18.56% and a net margin of 5.39%. The business had revenue of C$11.91 billion for the quarter, compared to analysts’ expectations of C$11.43 billion.
Separately, BMO Capital Markets set a C$61.00 price target on Magna International and gave the company a “market perform” rating in a report on Thursday, January 18th.
Shares of Magna International (TSE:MG) traded up C$1.22 during mid-day trading on Friday, hitting C$68.18. The stock had a trading volume of 1,539,297 shares, compared to its average volume of 1,110,632. Magna International has a twelve month low of C$52.63 and a twelve month high of C$74.75. The stock has a market capitalization of $23,990.00, a P/E ratio of 9.66 and a beta of 1.06.
In other news, insider Marc Joseph Neeb sold 43,332 shares of Magna International stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of C$67.20, for a total transaction of C$2,911,910.40. Also, Director Donald James Walker sold 88,900 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of C$67.50, for a total value of C$6,000,750.00. Insiders have sold 331,122 shares of company stock worth $22,876,412 in the last quarter.
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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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