Magna International (NYSE:MGA) Reaches New 12-Month Low – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $35.69 and last traded at $35.88, with a volume of 166863 shares. The stock had previously closed at $39.67.

Analyst Ratings Changes

MGA has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. UBS Group lifted their target price on Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Finally, CIBC lifted their target price on Magna International from $46.00 to $51.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Magna International has a consensus rating of “Hold” and a consensus target price of $50.24.

Magna International Price Performance

The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $42.50 and a 200 day moving average price of $42.02. The stock has a market cap of $10.35 billion, a PE ratio of 9.75, a PEG ratio of 0.62 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Magna International Inc. will post 5.23 earnings per share for the current fiscal year.

Institutional Trading of Magna International

A number of institutional investors have recently added to or reduced their stakes in MGA. Millennium Management LLC lifted its holdings in Magna International by 135.5% during the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after purchasing an additional 93,637 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Magna International by 11.2% in the 3rd quarter. SG Americas Securities LLC now owns 37,628 shares of the company’s stock valued at $1,544,000 after acquiring an additional 3,794 shares in the last quarter. Tobam raised its holdings in shares of Magna International by 94.3% in the 3rd quarter. Tobam now owns 4,373 shares of the company’s stock valued at $179,000 after acquiring an additional 2,122 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.