Magna International, Inc. (MGA) Stock Rating Reaffirmed by KeyCorp
Magna International, Inc. (NYSE:MGA) (TSE:MG)‘s stock had its “buy” rating reiterated by KeyCorp in a report released on Sunday.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada boosted their target price on Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, August 14th. Cormark upgraded Magna International from a “buy” rating to a “top pick” rating in a research report on Tuesday, July 11th. Morgan Stanley dropped their target price on Magna International from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. BMO Capital Markets restated a “hold” rating and set a $47.00 target price on shares of Magna International in a research report on Friday. Finally, Zacks Investment Research upgraded Magna International from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Magna International presently has an average rating of “Buy” and a consensus price target of $52.90.
Shares of Magna International (MGA) opened at 51.91 on Friday. The stock has a market cap of $19.20 billion, a PE ratio of 9.38 and a beta of 1.43. The firm has a 50-day moving average price of $47.75 and a 200 day moving average price of $45.00. Magna International has a 12-month low of $36.77 and a 12-month high of $51.98.
Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 11th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Magna International had a return on equity of 20.01% and a net margin of 5.73%. The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts expect that Magna International will post $5.89 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Magna International in the first quarter valued at approximately $173,000. SRS Capital Advisors Inc. boosted its holdings in shares of Magna International by 16.4% in the first quarter. SRS Capital Advisors Inc. now owns 3,239 shares of the company’s stock valued at $139,000 after purchasing an additional 456 shares during the period. IFP Advisors Inc boosted its holdings in shares of Magna International by 19.5% in the second quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after purchasing an additional 654 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Magna International by 17.2% in the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after purchasing an additional 625 shares during the period. Finally, Regent Investment Management LLC purchased a new stake in shares of Magna International in the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 59.73% of the company’s stock.
About Magna International
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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