Magna International Reaches New 52-Week High at $112.20 (MGA)
Magna International (NYSE:MGA) reached a new 52-week high during trading on Thursday , AnalystRatingsNetwork.com reports. The stock traded as high as $112.20 and last traded at $110.84, with a volume of 164,754 shares. The stock had previously closed at $111.53.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Magna International in a research note on Tuesday. They now have a $116.00 price target on the stock, up previously from $107.00. Separately, analysts at Zacks downgraded shares of Magna International from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 9th. They now have a $114.00 price target on the stock. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Magna International in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $108.13.
The stock’s 50-day moving average is $108. and its 200-day moving average is $97.3. The company has a market cap of $24.107 billion and a price-to-earnings ratio of 16.04.
Magna International (NYSE:MGA) last announced its earnings results on Thursday, May 8th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts predict that Magna International will post $8.32 earnings per share for the current fiscal year.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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