Magna International Inc. to Post FY2017 Earnings of $7.53 Per Share, Cormark Forecasts (MG)

Magna International Inc. (TSE:MG) (NYSE:MGA) – Cormark boosted their FY2017 earnings per share (EPS) estimates for Magna International in a report issued on Tuesday. Cormark analyst D. Tyerman now expects that the company will post earnings per share of $7.53 for the year, up from their prior estimate of $7.48. Cormark also issued estimates for Magna International’s FY2019 earnings at $10.12 EPS and FY2021 earnings at $13.25 EPS.

Separately, BMO Capital Markets set a C$61.00 price objective on Magna International and gave the stock a “market perform” rating in a report on Thursday, January 18th.

Shares of Magna International (TSE:MG) opened at C$71.31 on Friday. Magna International has a twelve month low of C$52.63 and a twelve month high of C$74.75. The company has a market capitalization of $25,550.00, a PE ratio of 10.02 and a beta of 1.06.

In other Magna International news, Director Tommy Joseph Skudutis sold 84,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$71.08, for a total transaction of C$5,970,720.00. Also, insider Vincent Joseph Galifi sold 44,890 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of C$71.99, for a total value of C$3,231,631.10.

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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.

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

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