Magna International (MGA) – Investment Analysts’ Weekly Ratings Changes
Magna International (NYSE: MGA) received a number of ratings updates from brokerages and research firms in the last week:
- Magna International had its price target raised by analysts at Canaccord Genuity from $102.00 to $108.00.
- Magna International had its price target raised by analysts at JPMorgan Chase & Co. from $116.00 to $120.00. They now have a “neutral” rating on the stock.
- Magna International had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $102.00 price target on the stock, up previously from $98.00.
- Magna International had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $117.00 price target on the stock. Zacks‘ analyst wrote, “Magna International posted adjusted earnings per share of $2.37 for the second quarter of 2014, which surpassed the Zacks Consensus Estimate of $2.22. Revenues went up 5.6% to $9.46 billion, beating the Zacks Consensus Estimate of $9.37 billion. For 2014, Magna International increased the revenues guidance to $35.6-$37.3 billion. The stringent regulatory requirements are expected to boost sales in the future. The company maintains a strong cash position, which facilitates regular capital deployment. However, dependence on few customers and uncertainty in the European automotive industry are some headwinds. Thus we are maintaining a Neutral recommendation on Magna International.”
- Magna International had its price target raised by analysts at CIBC from $115.00 to $120.00. They now have a “sector outperformer” rating on the stock.
- Magna International had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $130.00 price target on the stock, up previously from $115.00.
- Magna International had its “neutral” rating reaffirmed by analysts at Citigroup Inc.. They now have a $120.00 price target on the stock, up previously from $107.00.
- Magna International is now covered by analysts at Credit Suisse. They set an “outperform” rating and a $128.00 price target on the stock.
Magna International Inc. (NYSE:MGA) traded up 0.04% on Wednesday, hitting $114.04. The stock had a trading volume of 302,628 shares. Magna International Inc. has a 52-week low of $75.45 and a 52-week high of $114.04. The stock’s 50-day moving average is $109.9 and its 200-day moving average is $100.6. The company has a market cap of $24.211 billion and a P/E ratio of 15.24.
Magna International (NYSE:MGA) last released its earnings data on Friday, August 8th. The company reported $2.32 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that Magna International Inc. will post $8.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, August 27th.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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