Magna International Inc. (NYSE:MGA) (TSE:MG) – Cormark boosted their FY2020 EPS estimates for shares of Magna International in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $9.44 for the year, up from their previous estimate of $9.20. Cormark also issued estimates for Magna International’s FY2021 earnings at $10.65 EPS.
A number of other research analysts have also issued reports on MGA. ValuEngine upgraded Magna International from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Raymond James Financial boosted their price objective on Magna International from $67.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, January 11th. KeyCorp reissued a “buy” rating on shares of Magna International in a research note on Wednesday, January 17th. BMO Capital Markets reissued a “hold” rating and issued a $61.00 price objective on shares of Magna International in a research note on Thursday, January 18th. Finally, Royal Bank of Canada boosted their price objective on Magna International from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $61.54.
Shares of Magna International (NYSE:MGA) traded down $0.38 during mid-day trading on Friday, reaching $53.12. The company’s stock had a trading volume of 1,914,481 shares, compared to its average volume of 1,434,474. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Magna International has a one year low of $39.50 and a one year high of $59.99. The firm has a market cap of $19,168.88, a price-to-earnings ratio of 9.47, a PEG ratio of 0.84 and a beta of 1.45.
Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.05. Magna International had a return on equity of 19.46% and a net margin of 5.63%. The company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $9.26 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Aviance Capital Management LLC acquired a new stake in shares of Magna International during the fourth quarter worth $156,000. Advisory Services Network LLC raised its position in shares of Magna International by 17.2% during the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock worth $197,000 after purchasing an additional 625 shares during the period. Groesbeck Investment Management Corp NJ acquired a new stake in shares of Magna International during the fourth quarter worth $204,000. Westwood Management Corp IL acquired a new stake in shares of Magna International during the third quarter worth $214,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Magna International during the third quarter worth $214,000. 59.54% of the stock is currently owned by institutional investors.
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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