Magna International (TSE:MG) Upgraded to Strong Sell by Wolfe Research

Magna International (TSE:MG) (NYSE:MGA) was upgraded by stock analysts at Wolfe Research to a “strong sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

MG has been the subject of a number of other research reports. BNP Paribas raised Magna International from a “hold” rating to a “strong-buy” rating in a report on Monday, July 1st. Royal Bank of Canada cut Magna International from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Magna International Stock Performance

MG opened at C$54.70 on Thursday. The firm has a market cap of C$15.72 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.58 and a beta of 1.61. The business’s fifty day moving average is C$57.64 and its 200-day moving average is C$63.69. Magna International has a 52-week low of C$52.25 and a 52-week high of C$81.65. The company has a debt-to-equity ratio of 62.12, a quick ratio of 0.83 and a current ratio of 1.12.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, August 2nd. The company reported C$1.85 EPS for the quarter, missing the consensus estimate of C$1.99 by C($0.14). Magna International had a net margin of 2.29% and a return on equity of 9.03%. The firm had revenue of C$14.99 billion during the quarter, compared to the consensus estimate of C$15.22 billion. Sell-side analysts expect that Magna International will post 7.5019868 EPS for the current fiscal year.

About Magna International

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.