Magna International Inc. (TSE:MG) (NYSE:MGA) – Equities research analysts at Cormark dropped their Q1 2019 earnings per share estimates for shares of Magna International in a research note issued on Friday, September 21st. Cormark analyst D. Tyerman now anticipates that the company will post earnings of $2.68 per share for the quarter, down from their prior forecast of $2.80. Cormark also issued estimates for Magna International’s Q2 2019 earnings at $2.59 EPS, Q3 2019 earnings at $2.36 EPS, FY2019 earnings at $10.38 EPS, FY2020 earnings at $12.36 EPS, FY2021 earnings at $13.87 EPS and FY2022 earnings at $15.61 EPS.
Shares of TSE:MG opened at C$71.27 on Monday. Magna International has a 52 week low of C$63.63 and a 52 week high of C$87.13.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a $0.429 dividend. This is a boost from Magna International’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 2.41%.
In related news, insider Francis Seguin bought 12,600 shares of the stock in a transaction dated Friday, June 29th. The stock was acquired at an average price of C$77.13 per share, for a total transaction of C$971,838.00.
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 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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