What is Scotiabank’s Estimate for TSE:MG FY2024 Earnings?

Magna International Inc. (TSE:MG) (NYSE:MGA) – Stock analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of Magna International in a report issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now forecasts that the company will post earnings per share of $7.75 for the year, up from their prior forecast of $7.36. The consensus estimate for Magna International’s current full-year earnings is $8.89 per share. Scotiabank also issued estimates for Magna International’s FY2025 earnings at $9.33 EPS.

MG has been the topic of several other research reports. The Goldman Sachs Group downgraded shares of Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th. Wolfe Research raised Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th.

Magna International Stock Performance

Shares of Magna International stock opened at C$57.01 on Monday. Magna International has a 1 year low of C$51.79 and a 1 year high of C$79.98. The firm’s 50-day moving average is C$61.15 and its 200 day moving average is C$58.54. The stock has a market cap of C$16.38 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a current ratio of 1.12 and a quick ratio of 0.83.

Magna International Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 29th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 3.33%. Magna International’s dividend payout ratio (DPR) is 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.