Magna International, Inc. (MGA) Receives “Hold” Rating from BMO Capital Markets
Magna International, Inc. (NYSE:MGA) (TSE:MG)‘s stock had its “hold” rating reiterated by analysts at BMO Capital Markets in a research note issued to investors on Friday. They currently have a $47.00 price target on the stock. BMO Capital Markets’ price target points to a potential downside of 9.46% from the company’s current price.
Several other brokerages also recently weighed in on MGA. Zacks Investment Research downgraded Magna International from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. ValuEngine downgraded Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Citigroup Inc. boosted their price target on Magna International from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada boosted their price target on Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, August 14th. Finally, BidaskClub upgraded Magna International from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Magna International currently has a consensus rating of “Buy” and an average target price of $52.90.
Shares of Magna International (MGA) traded up 1.76% on Friday, reaching $51.91. The company had a trading volume of 2,584,576 shares. The firm has a 50-day moving average price of $47.64 and a 200 day moving average price of $44.94. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 9.38 and a beta of 1.43. Magna International has a 1-year low of $36.77 and a 1-year high of $51.98.
Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.01. The company had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.50 billion. Magna International had a return on equity of 20.01% and a net margin of 5.73%. Magna International’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. Equities research analysts predict that Magna International will post $5.89 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in MGA. Bank of New York Mellon Corp grew its stake in shares of Magna International by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 608,154 shares of the company’s stock valued at $26,247,000 after buying an additional 15,987 shares during the period. Airain ltd purchased a new stake in shares of Magna International during the 1st quarter valued at $757,000. Quantbot Technologies LP grew its stake in shares of Magna International by 55.3% during the 1st quarter. Quantbot Technologies LP now owns 47,720 shares of the company’s stock valued at $2,059,000 after buying an additional 16,996 shares during the period. SG Americas Securities LLC grew its stake in shares of Magna International by 29.1% during the 1st quarter. SG Americas Securities LLC now owns 45,668 shares of the company’s stock valued at $1,971,000 after buying an additional 10,304 shares during the period. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Magna International during the 1st quarter valued at $173,000. 59.73% of the stock is owned by institutional investors.
Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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