FY2020 Earnings Forecast for Magna International Inc. (TSE:MG) Issued By Cormark

Magna International Inc. (TSE:MG) (NYSE:MGA) – Analysts at Cormark boosted their FY2020 EPS estimates for Magna International in a research note issued to investors on Wednesday, according to Zacks Investment Research. Cormark analyst D. Tyerman now anticipates that the company will earn $11.71 per share for the year, up from their previous forecast of $11.67. Cormark also issued estimates for Magna International’s FY2021 earnings at $14.93 EPS.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings data on Thursday, November 9th. The company reported C$1.71 EPS for the quarter, beating the consensus estimate of C$1.67 by C$0.04. Magna International had a return on equity of 18.56% and a net margin of 5.39%. The firm had revenue of C$11.91 billion during the quarter, compared to analyst estimates of C$11.43 billion.

Separately, BMO Capital Markets set a C$61.00 target price on Magna International and gave the stock a “market perform” rating in a research note on Thursday, January 18th.

Shares of Magna International (TSE MG) traded down C$0.59 on Friday, hitting C$66.96. The stock had a trading volume of 2,002,400 shares, compared to its average volume of 1,030,000. Magna International has a 12-month low of C$52.63 and a 12-month high of C$74.75. The stock has a market cap of $23,990.00, a price-to-earnings ratio of 9.48 and a beta of 1.06.

In other Magna International news, insider Marc Joseph Neeb sold 43,332 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of C$67.20, for a total transaction of C$2,911,910.40. Also, Director Tommy Joseph Skudutis sold 84,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$71.08, for a total value of C$5,970,720.00. Insiders sold a total of 531,122 shares of company stock valued at $36,350,412 in the last 90 days.

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About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.

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

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