Magna International Inc. (MG) to Post Q1 2019 Earnings of $2.71 Per Share, Cormark Forecasts

Magna International Inc. (TSE:MG) (NYSE:MGA) – Research analysts at Cormark dropped their Q1 2019 earnings per share (EPS) estimates for Magna International in a report issued on Monday, June 18th, Zacks Investment Research reports. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $2.71 for the quarter, down from their previous forecast 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 issued its quarterly earnings results on Thursday, May 10th. The company reported C$2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.10 by C$0.23. The company had revenue of C$13.64 billion for the quarter, compared to the consensus estimate of C$12.69 billion. Magna International had a return on equity of 19.24% and a net margin of 5.28%.

Shares of Magna International opened at C$81.33 on Wednesday, MarketBeat Ratings reports. Magna International has a 12-month low of C$57.47 and a 12-month high of C$87.13.

In related news, insider Marc Joseph Neeb sold 21,804 shares of the stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of C$65.27, for a total value of C$1,423,147.08. Also, insider Francis Seguin sold 75,886 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of C$84.58, for a total value of C$6,418,437.88. In the last 90 days, insiders sold 209,506 shares of company stock worth $16,481,973.

The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were given a $0.33 dividend. The ex-dividend date was Thursday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%.

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.

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

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