Magnera (NYSE:MAGN) Releases Quarterly Earnings Results

Magnera (NYSE:MAGN - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($1.35), Zacks reports. The business had revenue of $824.00 million during the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The company's revenue for the quarter was up 47.7% on a year-over-year basis.

Magnera Price Performance

Shares of MAGN stock traded up $0.61 on Monday, reaching $14.73. 841,608 shares of the stock were exchanged, compared to its average volume of 536,429. The company has a market capitalization of $524.39 million, a PE ratio of -0.80 and a beta of 1.76. Magnera has a one year low of $12.20 and a one year high of $26.78. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The firm's 50 day moving average price is $16.41.

Insider Transactions at Magnera

In related news, Director Kevin Michael Fogarty acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $15.15 per share, for a total transaction of $303,000.00. Following the completion of the acquisition, the director now owns 31,538 shares of the company's stock, valued at $477,800.70. This trade represents a 173.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Curt Begle acquired 23,786 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, with a total value of $501,408.88. Following the acquisition, the chief executive officer now directly owns 24,066 shares of the company's stock, valued at $507,311.28. The trade was a 8,495.00% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 84,061 shares of company stock worth $1,495,062 over the last 90 days. 2.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Vertical Research assumed coverage on Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective on the stock. Wells Fargo & Company boosted their target price on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th.

About Magnera

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.