Magna International (NYSE:MGA - Get Free Report) TSE: MG was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.
A number of other research firms have also weighed in on MGA. Scotiabank upped their target price on Magna International from $38.00 to $44.00 and gave the stock a "sector perform" rating in a report on Monday, July 14th. CIBC restated a "neutral" rating and set a $47.00 target price (up previously from $46.00) on shares of Magna International in a report on Tuesday, August 26th. UBS Group upped their target price on Magna International from $37.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. TD Securities upped their target price on Magna International from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 target price on shares of Magna International in a report on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $44.07.
Check Out Our Latest Analysis on MGA
Magna International Trading Up 0.1%
Shares of NYSE MGA traded up $0.04 during trading hours on Friday, reaching $46.60. The stock had a trading volume of 2,162,914 shares, compared to its average volume of 1,555,408. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.03 and a beta of 1.53. The business's fifty day moving average price is $44.58 and its two-hundred day moving average price is $39.16. Magna International has a 52-week low of $30.39 and a 52-week high of $47.79.
Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.25. The firm had revenue of $10.82 billion during the quarter, compared to analyst estimates of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.Magna International's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 earnings per share. Magna International has set its FY 2025 guidance at EPS. Analysts expect that Magna International will post 5.87 EPS for the current fiscal year.
Hedge Funds Weigh In On Magna International
Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Magna International by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock worth $8,582,000 after purchasing an additional 13,220 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of Magna International during the first quarter worth $5,478,000. Janney Montgomery Scott LLC increased its position in shares of Magna International by 19.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company's stock valued at $8,560,000 after acquiring an additional 41,811 shares during the period. ARGA Investment Management LP increased its position in shares of Magna International by 17.0% in the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock valued at $101,890,000 after acquiring an additional 436,366 shares during the period. Finally, Quantbot Technologies LP increased its position in shares of Magna International by 3,849.3% in the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock valued at $5,639,000 after acquiring an additional 161,707 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.
Magna International Company Profile
(
Get Free Report)
Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.
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