Magna International Hits New 52-Week High at $109.39 (MGA)
Magna International (NYSE:MGA) shares reached a new 52-week high during trading on Tuesday , Analyst Ratings Net reports. The company traded as high as $109.39 and last traded at $108.87, with a volume of 146,353 shares trading hands. The stock had previously closed at $107.75.
A number of research firms have recently commented on MGA. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of Magna International in a research note on Thursday, June 26th. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Magna International in a research note on Tuesday, May 13th. They now have a $107.00 price target on the stock, up previously from $99.00. Finally, analysts at CIBC raised their price target on shares of Magna International from $110.00 to $115.00 in a research note on Monday, May 12th. They now have a “sector outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $107.67.
The stock has a 50-day moving average of $104.9 and a 200-day moving average of $94.26. The company has a market cap of $23.708 billion and a price-to-earnings ratio of 15.50.
Magna International (NYSE:MGA) last announced its earnings results on Thursday, May 8th. The company reported $1.76 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.98 by $0.22. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.91 billion. During the same quarter last year, the company posted $1.57 earnings per share. Magna International’s revenue was up 7.2% compared to the same quarter last year. Analysts expect that Magna International will post $8.26 EPS for the current fiscal year.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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