Magna International Inc. (TSE:MG) (NYSE:MGA) – Investment analysts at Cormark reduced their FY2016 EPS estimates for Magna International in a research report issued to clients and investors on Thursday. Cormark analyst D. Tyerman now forecasts that the brokerage will earn $6.97 per share for the year, down from their previous forecast of $7.01. Cormark also issued estimates for Magna International’s Q4 2016 earnings at $1.80 EPS, Q1 2017 earnings at $1.81 EPS, Q2 2017 earnings at $1.94 EPS, Q3 2017 earnings at $1.72 EPS, Q4 2017 earnings at $1.98 EPS and FY2020 earnings at $11.34 EPS.

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A number of other research firms have also recently commented on MG. Scotiabank set a C$65.00 price target on Magna International and gave the company an “outperform” rating in a report on Thursday. Macquarie reissued an “outperform” rating on shares of Magna International in a report on Wednesday, September 28th. Finally, TD Securities set a C$47.00 target price on Magna International and gave the stock a “buy” rating in a report on Friday, October 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Magna International currently has a consensus rating of “Buy” and a consensus target price of C$63.25.

Shares of Magna International (TSE:MG) opened at 58.82 on Friday. The company has a market capitalization of $22.61 billion and a price-to-earnings ratio of 11.56. Magna International has a 1-year low of $42.09 and a 1-year high of $62.10. The company’s 50 day moving average price is $58.21 and its 200-day moving average price is $53.48.

In related news, insider Vincent Joseph Galifi sold 95,000 shares of Magna International stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of C$60.65, for a total value of C$5,761,750.00.

COPYRIGHT VIOLATION WARNING: “Magna International Inc. Forecasted to Earn FY2016 Earnings of $6.97 Per Share (MG)” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international copyright law. The legal version of this piece of content can be accessed at http://www.dailypolitical.com/2017/01/13/magna-international-inc-forecasted-to-earn-fy2016-earnings-of-6-97-per-share-mg.html.

Magna International Company Profile

Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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