Magna International, Inc. (NYSE:MGA) (TSE:MG)‘s stock had its “buy” rating reaffirmed by stock analysts at TD Securities in a research report issued to clients and investors on Tuesday, October 17th. They currently have a $56.00 target price on the stock. TD Securities’ price target indicates a potential upside of 3.09% from the stock’s previous close.
Several other equities analysts have also weighed in on MGA. Zacks Investment Research lowered Magna International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Morgan Stanley lowered Magna International from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $56.00 to $47.00 in a research note on Monday, August 28th. Edward Jones lowered Magna International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. KeyCorp increased their price objective on Magna International from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, BidaskClub upgraded Magna International from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Magna International presently has an average rating of “Buy” and a consensus price target of $56.00.
Shares of Magna International (NYSE:MGA) traded down $0.80 during trading hours on Tuesday, reaching $54.32. The company’s stock had a trading volume of 799,187 shares, compared to its average volume of 1,127,193. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $20,388.77, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.49. Magna International has a 52-week low of $36.77 and a 52-week high of $55.76.
Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.47 by $0.01. The company had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Magna International had a return on equity of 20.01% and a net margin of 5.73%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. equities research analysts forecast that Magna International will post 5.92 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Todd Asset Management LLC raised its holdings in Magna International by 53.0% in the 3rd quarter. Todd Asset Management LLC now owns 319,941 shares of the company’s stock valued at $17,079,000 after acquiring an additional 110,835 shares in the last quarter. Jarislowsky Fraser Ltd acquired a new position in shares of Magna International during the 3rd quarter worth $382,000. FDx Advisors Inc. acquired a new position in shares of Magna International during the 3rd quarter worth $614,000. Bank of Hawaii raised its holdings in shares of Magna International by 124.7% during the 3rd quarter. Bank of Hawaii now owns 15,858 shares of the company’s stock worth $846,000 after buying an additional 8,801 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in shares of Magna International by 418.7% during the 3rd quarter. Wesbanco Bank Inc. now owns 79,286 shares of the company’s stock worth $4,232,000 after buying an additional 64,000 shares in the last quarter. 59.74% of the stock is owned by hedge funds and other institutional investors.
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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