Magna International Inc. (NYSE:MGA) (TSE:MG) has received an average rating of “Buy” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $51.38.
A number of research analysts have issued reports on MGA shares. Credit Suisse Group lifted their target price on Magna International from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Magna International from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, June 19th. Goldman Sachs Group began coverage on Magna International in a research report on Tuesday, April 14th. They issued a “neutral” rating and a $35.00 target price on the stock. TD Securities boosted their price target on Magna International from $44.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Barclays boosted their price target on Magna International from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th.
A number of hedge funds have recently made changes to their positions in the stock. Schroder Investment Management Group boosted its holdings in Magna International by 5.0% in the first quarter. Schroder Investment Management Group now owns 1,601,624 shares of the company’s stock valued at $73,322,000 after acquiring an additional 76,073 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Magna International by 5.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,420,364 shares of the company’s stock valued at $63,069,000 after acquiring an additional 70,672 shares during the last quarter. QV Investors Inc. boosted its holdings in Magna International by 72.2% in the first quarter. QV Investors Inc. now owns 983,015 shares of the company’s stock valued at $31,017,000 after acquiring an additional 412,032 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Magna International by 15.2% in the first quarter. Bank of New York Mellon Corp now owns 632,714 shares of the company’s stock valued at $20,196,000 after acquiring an additional 83,704 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Magna International by 6.7% in the first quarter. Geode Capital Management LLC now owns 506,977 shares of the company’s stock valued at $16,115,000 after acquiring an additional 31,623 shares during the last quarter. Institutional investors and hedge funds own 56.72% of the company’s stock.
Magna International stock opened at $46.17 on Tuesday. Magna International has a 12-month low of $22.75 and a 12-month high of $57.09. The company has a quick ratio of 0.81, a current ratio of 1.22 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $45.41 and its two-hundred day moving average price is $43.00. The stock has a market cap of $13.78 billion, a PE ratio of 15.60, a P/E/G ratio of 13.06 and a beta of 1.64.
Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, May 7th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.12. Magna International had a return on equity of 14.75% and a net margin of 2.45%. The firm had revenue of $8.66 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was down 18.3% on a year-over-year basis. As a group, analysts expect that Magna International will post 1.08 earnings per share for the current year.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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