Magna International Inc reports results for the quarter ended March 31 - Earnings Summary

• Magna International Inc MG.TO reported quarterly adjusted earnings of 78 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of $1.08. The mean expectation of fourteen analysts for the quarter was for earnings of 90 cents per share. Wall Street expected results to range from 76 cents to $1.22 per share.

• Revenue fell 8.2% to $10.07 billion from a year ago; analysts expected $9.69 billion.

• Magna International Inc's reported EPS for the quarter was 52 cents​.

• The company reported quarterly net income of $146 million.

• Magna International Inc shares had fallen by 0.8% this quarter and lost 19.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 26.9% in the last three months.​

• In the last 30 days, four analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy," 8 "hold" and 1 "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 $41.90

This summary was machine generated from LSEG data May 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)