Magna International’s Hold Rating Reaffirmed at Deutsche Bank (MGA)
Magna International (NYSE:MGA)‘s stock had its “hold” rating restated by stock analysts at Deutsche Bank in a report issued on Monday. They currently have a $102.00 target price on the stock, up from their previous target price of $98.00. Deutsche Bank’s price objective indicates a potential downside of 8.47% from the company’s current price.
Shares of Magna International (NYSE:MGA) traded up 0.11% on Monday, hitting $111.56. The stock had a trading volume of 392,158 shares. Magna International has a 1-year low of $75.45 and a 1-year high of $112.20. The stock has a 50-day moving average of $109.1 and a 200-day moving average of $99.27. The company has a market cap of $24.303 billion and a price-to-earnings ratio of 16.03.
Magna International (NYSE:MGA) last released its earnings data on Friday, August 8th. The company reported $2.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.10. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the company posted $1.78 earnings per share. Magna International’s revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that Magna International will post $8.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, August 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Magna International in a research note on Monday. They now have a $117.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Magna International from $116.00 to $120.00 in a research note on Monday. They now have a “neutral” rating on the stock. Finally, analysts at CIBC raised their price target on shares of Magna International from $115.00 to $120.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Magna International currently has an average rating of “Hold” and an average target price of $110.00.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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