Raymond James Comments on Magna International Inc.’s Q4 2023 Earnings (TSE:MG)

Magna International Inc. (TSE:MGFree Report) (NYSE:MGA) – Equities research analysts at Raymond James dropped their Q4 2023 earnings per share (EPS) estimates for shares of Magna International in a research report issued on Monday, February 5th. Raymond James analyst M. Glen now expects that the company will earn $1.89 per share for the quarter, down from their prior estimate of $2.08. The consensus estimate for Magna International’s current full-year earnings is $9.17 per share. Raymond James also issued estimates for Magna International’s Q1 2024 earnings at $2.32 EPS, Q2 2024 earnings at $2.43 EPS, Q3 2024 earnings at $2.23 EPS, Q4 2024 earnings at $2.15 EPS and FY2024 earnings at $9.13 EPS.

Separately, Royal Bank of Canada increased their price target on Magna International from C$57.00 to C$58.00 and gave the stock a “sector perform” rating in a research report on Monday, November 6th.

View Our Latest Stock Report on Magna International

Magna International Price Performance

MG opened at C$78.83 on Thursday. Magna International has a 12-month low of C$64.41 and a 12-month high of C$89.25. The company has a current ratio of 1.11, a quick ratio of 0.83 and a debt-to-equity ratio of 61.33. The business’s fifty day simple moving average is C$75.94 and its 200-day simple moving average is C$75.52. The company has a market capitalization of C$22.57 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 0.58 and a beta of 1.70.

Insider Activity at Magna International

In related news, Director Peter Guy Bowie sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of C$76.09, for a total transaction of C$532,623.00. In other Magna International news, Director Peter Guy Bowie sold 7,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of C$76.09, for a total value of C$532,623.00. Also, Senior Officer Uwe Paul-Ernst Geissinger sold 8,130 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of C$53.55, for a total value of C$435,361.50. Insiders have sold a total of 55,630 shares of company stock valued at $4,005,485 over the last quarter. 6.10% of the stock is owned by corporate insiders.

Magna International Company Profile

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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.

See Also

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

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