ValuEngine upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a strong-buy rating in a report issued on Friday.
MGA has been the subject of a number of other research reports. Wells Fargo & Co raised Magna International from a market perform rating to an outperform rating in a report on Friday, January 12th. Zacks Investment Research downgraded Magna International from a buy rating to a hold rating in a report on Thursday, October 26th. Macquarie reissued an outperform rating and issued a $72.00 price target (up previously from $59.00) on shares of Magna International in a report on Tuesday, January 9th. Raymond James Financial increased their price target on Magna International from $67.00 to $68.00 and gave the company an outperform rating in a report on Thursday, January 11th. Finally, BMO Capital Markets reaffirmed a hold rating on shares of Magna International in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $61.54.
Magna International (MGA) opened at $52.31 on Friday. The company has a market capitalization of $19,637.99, a PE ratio of 9.70, a P/E/G ratio of 0.86 and a beta of 1.45. Magna International has a 1-year low of $39.50 and a 1-year high of $59.99. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.
Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.26 billion. Magna International had a return on equity of 19.46% and a net margin of 5.63%. Magna International’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. equities analysts forecast that Magna International will post 5.96 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in MGA. Advisory Services Network LLC lifted its holdings in shares of Magna International by 17.2% in the 2nd quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock worth $197,000 after purchasing an additional 625 shares during the last quarter. Westwood Management Corp IL bought a new stake in shares of Magna International in the 3rd quarter worth approximately $214,000. Segall Bryant & Hamill LLC bought a new stake in shares of Magna International in the 3rd quarter worth approximately $214,000. Laurel Wealth Advisors Inc. lifted its holdings in shares of Magna International by 5.1% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock worth $248,000 after purchasing an additional 261 shares during the last quarter. Finally, Financial Counselors Inc. bought a new stake in shares of Magna International in the 3rd quarter worth approximately $258,000. 59.54% of the stock is currently owned by institutional investors.
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Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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