Raymond James reiterated their market perform rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a report issued on Monday morning, BayStreet.CA reports. Raymond James currently has a $60.00 price target on the stock.
A number of other equities analysts have also issued reports on the stock. Morgan Stanley boosted their target price on shares of Magna International from $40.00 to $42.00 and gave the stock an underweight rating in a research report on Thursday, November 21st. TD Securities boosted their target price on shares of Magna International from $59.00 to $60.00 and gave the stock a hold rating in a research report on Monday, November 11th. Zacks Investment Research lowered shares of Magna International from a hold rating to a sell rating and set a $57.00 target price on the stock. in a research report on Friday, November 22nd. Royal Bank of Canada started coverage on shares of Magna International in a research report on Tuesday, December 17th. They set an outperform rating and a $76.00 target price on the stock. Finally, ValuEngine lowered shares of Magna International from a hold rating to a sell rating in a research report on Saturday, January 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $58.42.
NYSE:MGA opened at $53.20 on Monday. Magna International has a 12 month low of $42.51 and a 12 month high of $57.09. The firm has a market cap of $16.34 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 1.39 and a beta of 1.54. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $54.65 and its 200-day moving average is $52.12.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 8th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.03. Magna International had a net margin of 4.43% and a return on equity of 17.59%. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.32 billion. During the same quarter last year, the firm posted $1.56 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Research analysts predict that Magna International will post 5.96 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Kempen Capital Management N.V. increased its position in Magna International by 17.8% during the second quarter. Kempen Capital Management N.V. now owns 49,366 shares of the company’s stock worth $3,217,000 after acquiring an additional 7,475 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Magna International by 1.5% during the third quarter. Parametric Portfolio Associates LLC now owns 784,233 shares of the company’s stock worth $41,823,000 after buying an additional 11,435 shares in the last quarter. QV Investors Inc. boosted its stake in Magna International by 27.7% during the third quarter. QV Investors Inc. now owns 764,140 shares of the company’s stock worth $53,964,000 after buying an additional 165,650 shares in the last quarter. Cardinal Capital Management Inc. boosted its stake in Magna International by 98.1% during the third quarter. Cardinal Capital Management Inc. now owns 1,465,592 shares of the company’s stock worth $78,131,000 after buying an additional 725,646 shares in the last quarter. Finally, Winmill & CO. Inc. acquired a new stake in Magna International during the third quarter worth $3,279,000. 56.56% of the stock is currently owned by institutional investors and hedge funds.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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