Raymond James reissued their market perform rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a research note issued to investors on Monday, BayStreet.CA reports. Raymond James currently has a $60.00 target price on the stock.
Other equities analysts have also issued research reports about the stock. Morgan Stanley raised their price objective on shares of Magna International from $40.00 to $42.00 and gave the company an underweight rating in a research report on Thursday, November 21st. TD Securities raised their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a hold rating in a research report on Monday, November 11th. Barclays reduced their price objective on shares of Magna International from $51.00 to $50.00 and set an equal weight rating for the company in a research report on Wednesday, October 2nd. ValuEngine lowered shares of Magna International from a hold rating to a sell rating in a research report on Saturday, January 4th. Finally, Benchmark began coverage on shares of Magna International in a research report on Thursday, January 9th. They set a buy rating and a $68.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $58.42.
Magna International stock opened at $53.20 on Monday. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.39 and a beta of 1.54. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $54.65 and its two-hundred day moving average price is $52.12. Magna International has a 52 week low of $42.51 and a 52 week high of $57.09.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 8th. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $9.32 billion. During the same quarter last year, the firm posted $1.56 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Research analysts expect that Magna International will post 5.96 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Usca Ria LLC acquired a new position in shares of Magna International in the third quarter worth about $34,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Magna International in the second quarter worth about $43,000. Assetmark Inc. boosted its holdings in shares of Magna International by 64.7% in the second quarter. Assetmark Inc. now owns 2,856 shares of the company’s stock worth $142,000 after buying an additional 1,122 shares during the period. Westwood Management Corp IL acquired a new position in shares of Magna International in the third quarter worth about $213,000. Finally, Squar Milner Financial Services LLC boosted its holdings in shares of Magna International by 34.5% in the third quarter. Squar Milner Financial Services LLC now owns 4,800 shares of the company’s stock worth $255,000 after buying an additional 1,231 shares during the period. Institutional investors own 56.56% of the company’s stock.
About Magna International
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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