Raymond James Has Negative Outlook of TSE:MG FY2024 Earnings

Magna International Inc. (TSE:MG) (NYSE:MGA) – Research analysts at Raymond James dropped their FY2024 EPS estimates for shares of Magna International in a research report issued on Monday, November 4th. Raymond James analyst M. Glen now expects that the company will earn $7.01 per share for the year, down from their previous forecast of $7.60. The consensus estimate for Magna International’s current full-year earnings is $8.89 per share. Raymond James also issued estimates for Magna International’s Q1 2025 earnings at $2.13 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.08 EPS and Q4 2025 earnings at $2.07 EPS.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings results on Friday, August 2nd. The company reported C$1.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.14). Magna International had a net margin of 2.29% and a return on equity of 9.03%. The firm had revenue of C$14.99 billion during the quarter, compared to the consensus estimate of C$15.22 billion.

A number of other analysts have also recently weighed in on MG. Wolfe Research upgraded shares of Magna International to a “strong sell” rating in a report on Thursday, September 5th. Royal Bank of Canada lowered shares of Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Magna International Stock Up 0.1 %

TSE:MG opened at C$58.61 on Tuesday. Magna International has a fifty-two week low of C$51.79 and a fifty-two week high of C$79.98. The stock has a market capitalization of C$16.84 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a quick ratio of 0.83 and a current ratio of 1.12. The company’s 50-day simple moving average is C$56.50 and its 200-day simple moving average is C$59.21.

Magna International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be paid a $0.475 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 3.24%. Magna International’s dividend payout ratio is currently 54.01%.

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.