Magna International (NYSE:MGA – Get Free Report) (TSE:MG) issued its quarterly earnings results on Friday. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11), Briefing.com reports. Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the company posted $1.50 earnings per share. Magna International’s revenue was down .2% compared to the same quarter last year. Magna International updated its FY 2024 guidance to EPS.
Magna International Stock Down 6.0 %
NYSE:MGA traded down $2.58 during mid-day trading on Friday, reaching $40.43. The stock had a trading volume of 3,694,438 shares, compared to its average volume of 1,528,292. The business’s 50 day moving average is $43.40 and its 200 day moving average is $49.21. Magna International has a fifty-two week low of $40.11 and a fifty-two week high of $65.27. The stock has a market cap of $11.62 billion, a P/E ratio of 11.49, a PEG ratio of 0.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76.
Magna International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.475 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.90 dividend on an annualized basis and a yield of 4.70%. Magna International’s dividend payout ratio is currently 53.98%.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on MGA
About Magna International
Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.
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