Raymond James Issues Negative Outlook for TSE:MG Earnings

Magna International Inc. (TSE:MG) (NYSE:MGA) – Investment analysts at Raymond James decreased their Q4 2024 earnings estimates for shares of Magna International in a research note issued to investors on Monday, November 4th. Raymond James analyst M. Glen now anticipates that the company will post earnings per share of $1.86 for the quarter, down from their previous forecast of $2.07. 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 FY2025 earnings at $8.51 EPS.

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

Magna International Stock Performance

Shares of MG opened at C$58.90 on Wednesday. Magna International has a 1 year low of C$51.79 and a 1 year high of C$79.98. The company has a debt-to-equity ratio of 62.12, a current ratio of 1.12 and a quick ratio of 0.83. The stock’s fifty day moving average price is C$56.53 and its two-hundred day moving average price is C$59.15. The firm has a market cap of C$16.92 billion, a PE ratio of 12.43, a PEG ratio of 0.45 and a beta of 1.60.

Magna International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio (DPR) is presently 54.01%.

Magna International Company Profile

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.