Magna International (TSE:MG) Rating Increased to Strong-Buy at Veritas

Key Points

• Magna International was upgraded to a "strong-buy" by Veritas, joining recent upgrades from Scotiabank and CIBC; the consensus analyst rating is "Buy" with an average price target of C$61.00.
• The stock opened at C$81.02 with a market cap of C$22.40 billion, a P/E of 34.19, a 52‑week range of C$44.85–C$95.18, and 50‑ and 200‑day moving averages of C$80.46 and C$75.06 respectively.
• In the latest quarter Magna reported C$1.92 EPS and C$14.43 billion revenue, with a net margin of 1.59% and ROE of 5.43%, and analysts forecast roughly C$8.89 EPS for the current year.

Magna International (TSE:MG - Get Free Report) NYSE: MGA was upgraded by research analysts at Veritas to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

MG has been the subject of several other research reports. Scotiabank upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Canadian Imperial Bank of Commerce upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Four investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Magna International currently has a consensus rating of "Buy" and an average price target of C$61.00.

Magna International Stock Performance

Shares of MG stock opened at C$81.02 on Monday. The firm has a market cap of C$22.40 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 0.45 and a beta of 1.91. The company has a debt-to-equity ratio of 17.27, a quick ratio of 0.83 and a current ratio of 1.22. Magna International has a 52 week low of C$44.85 and a 52 week high of C$95.18. The firm's 50-day simple moving average is C$80.46 and its two-hundred day simple moving average is C$75.06.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last announced its quarterly earnings data on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The business had revenue of C$14.43 billion for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. As a group, equities analysts forecast that Magna International will post 8.8948171 earnings per share for the current year.

About Magna International

Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.

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