Magna International Inc reports results for the quarter ended in June - Earnings Summary
Magna International Inc MG.TO reported quarterly adjusted earnings of $1.35 per share for the quarter ended in June, lower than the same quarter last year, when the company reported EPS of $1.50. The mean expectation of nineteen analysts for the quarter was for earnings of $1.44 per share. Wall Street expected results to range from $1.34 to $1.63 per share.
Revenue fell 0.2% to $10.96 billion from a year ago; analysts expected $11.01 billion.
Magna International Inc's reported EPS for the quarter was $1.09.
The company reported quarterly net income of $313 million.
Magna International Inc shares had risen by 2.6% this quarter and lost 27.2% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had fallen by about 6.3% in the last three months.
In the last 30 days, seven analysts negatively revised earnings estimates
RECOMMENDATIONS
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy," 15 "hold" and no "sell" or "strong sell."
The average consensus recommendation for the auto, truck & motorcycle parts peer group is also "hold"
Wall Street's median 12-month price target for Magna International Inc is $55.00
This summary was machine generated from LSEG data August 2 at 01:30 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)
QUARTER ENDING | ESTIMATE | ACTUAL | BEAT, MET, MISSED |
Jun. 30 2024 | 1.44 | 1.35 | Missed |
Mar. 31 2024 | 1.25 | 1.08 | Missed |
Dec. 31 2023 | 1.48 | 1.33 | Missed |
Sep. 30 2023 | 1.33 | 1.46 | Beat |
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