Magna International Given Consensus Rating of “Buy” by Brokerages (NYSE:MGA)
Magna International (NYSE:MGA) has earned a consensus rating of “Buy” from the fourteen ratings firms that are covering the company, AR Network reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $96.44.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Magna International from $93.00 to $110.00 in a research note on Friday, April 11th. They now have an “overweight” rating on the stock. Separately, analysts at Citigroup Inc. upgraded shares of Magna International from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $99.00 price target on the stock, up previously from $77.00. Finally, analysts at Guggenheim raised their price target on shares of Magna International from $78.00 to $89.00 in a research note on Tuesday, March 25th.
Magna International (NYSE:MGA) opened at 98.06 on Monday. Magna International has a 52-week low of $55.52 and a 52-week high of $100.50. The stock has a 50-day moving average of $96.41 and a 200-day moving average of $86.87. The company has a market cap of $21.547 billion and a price-to-earnings ratio of 14.51.
Magna International (NYSE:MGA) last posted its quarterly earnings results on Monday, March 3rd. The company reported $2.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.54 by $0.49. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.56 billion. On average, analysts predict that Magna International will post $7.97 earnings per share for the current fiscal year.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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