Magnera (NYSE:MAGN) Posts Quarterly Earnings Results

Key Points

• Magnera reported a quarterly loss of ($0.50) EPS, with a negative net margin of 4.04% and a negative return on equity of 12.30%.
• Shares traded up to $11.13 on Wednesday (374,973 shares), valuing the company at about $399.6 million and showing a negative PE of -4.26; the 52-week range is $7.82–$15.64.
• Wall Street has been trimming ratings—recent downgrades have left the consensus at “Reduce” with an average target price of $14.00.

Magnera (NYSE:MAGN - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.50) earnings per share for the quarter, Zacks reports. Magnera had a negative net margin of 4.04% and a negative return on equity of 12.30%.

Magnera Price Performance

NYSE MAGN traded up $1.01 during trading hours on Wednesday, reaching $11.13. 374,973 shares of the company's stock were exchanged, compared to its average volume of 462,672. The firm has a fifty day moving average of $10.62 and a 200-day moving average of $12.01. Magnera has a one year low of $7.82 and a one year high of $15.64. The stock has a market cap of $399.57 million, a PE ratio of -4.26 and a beta of 1.75. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MAGN shares. Vertical Research cut Magnera from a "buy" rating to a "hold" rating and set a $16.00 price objective for the company. in a research report on Wednesday, January 7th. Wells Fargo & Company cut shares of Magnera from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $19.00 to $12.00 in a research note on Friday, March 20th. Finally, Wall Street Zen downgraded shares of Magnera from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $14.00.

Institutional Trading of Magnera

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in Magnera by 702.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company's stock valued at $28,000 after acquiring an additional 1,630 shares in the last quarter. Quarry LP bought a new stake in shares of Magnera during the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Magnera by 106.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company's stock valued at $30,000 after acquiring an additional 1,021 shares during the period. BNP Paribas Financial Markets boosted its holdings in Magnera by 92.7% in the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock valued at $37,000 after acquiring an additional 1,492 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Magnera in the third quarter worth about $99,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Company Profile

Magnera's purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera's solutions propel our customers' goals forward and solve end-users' problems, every day.

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