Magna International Reaches New 12-Month High at $110.76 (MGA)
Magna International (NYSE:MGA)’s share price reached a new 52-week high on Friday , AR Network reports. The company traded as high as $110.76 and last traded at $110.69, with a volume of 260,991 shares traded. The stock had previously closed at $109.88.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Magna International from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $114.00 price target on the stock. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Magna International in a research note on Thursday, June 26th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Magna International has an average rating of “Buy” and a consensus target price of $107.44.
The stock’s 50-day moving average is $106.7 and its 200-day moving average is $95.47. The company has a market cap of $23.954 billion and a P/E ratio of 15.80.
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. On average, analysts predict that Magna International will post $8.26 earnings per share for the current fiscal year.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.