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

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

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

Shares of MG stock opened at C$84.49 on Wednesday. Magna International has a 12 month low of C$57.47 and a 12 month high of C$87.13.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.56%.

In other Magna International news, insider Sr. James Joseph Tobin sold 10,778 shares of Magna International stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of C$55.12, for a total value of C$594,083.36. Also, insider Vincent Joseph Galifi sold 75,000 shares of Magna International stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of C$82.92, for a total value of C$6,219,000.00. Insiders have sold 220,284 shares of company stock valued at $17,076,057 over the last 90 days.

Magna International Company Profile

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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