Analysts Set Magna International, Inc. (MGA) Price Target at $50.32
Magna International, Inc. (NYSE:MGA) (TSE:MG) has earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $50.29.
A number of brokerages have recently weighed in on MGA. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $43.00 price objective (down from $44.00) on shares of Magna International in a research note on Saturday, October 8th. TD Securities cut shares of Magna International from a “buy” rating to a “hold” rating and raised their price objective for the stock from $47.00 to $50.00 in a research note on Friday. Macquarie reissued an “outperform” rating on shares of Magna International in a research note on Friday, September 30th. RBC Capital Markets reissued an “outperform” rating and set a $73.00 price objective on shares of Magna International in a research note on Monday, October 24th. Finally, KeyCorp reissued an “overweight” rating on shares of Magna International in a research note on Monday, January 9th.
Magna International (NYSE:MGA) opened at 44.84 on Wednesday. Magna International has a 1-year low of $30.41 and a 1-year high of $47.21. The firm’s 50-day moving average price is $44.18 and its 200-day moving average price is $40.84. The firm has a market capitalization of $17.24 billion, a PE ratio of 8.81 and a beta of 1.59.
Magna International (NYSE:MGA) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.09. Magna International had a net margin of 5.67% and a return on equity of 20.72%. The business earned $8.85 billion during the quarter, compared to analysts’ expectations of $8.57 billion. During the same period last year, the company posted $1.13 EPS. The company’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Magna International will post $5.26 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in MGA. Sentry Investments Corp. boosted its stake in shares of Magna International by 20.8% in the second quarter. Sentry Investments Corp. now owns 3,823,400 shares of the company’s stock valued at $173,391,000 after buying an additional 658,600 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Magna International by 34.8% in the third quarter. Ameriprise Financial Inc. now owns 2,483,123 shares of the company’s stock valued at $106,615,000 after buying an additional 641,675 shares in the last quarter. Becker Capital Management Inc. bought a new stake in shares of Magna International during the third quarter valued at about $20,737,000. DnB Asset Management AS boosted its stake in shares of Magna International by 28.1% in the third quarter. DnB Asset Management AS now owns 1,363,465 shares of the company’s stock valued at $58,547,000 after buying an additional 298,712 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Magna International by 68.4% in the third quarter. US Bancorp DE now owns 627,397 shares of the company’s stock valued at $26,947,000 after buying an additional 254,873 shares in the last quarter. 58.37% of the stock is owned by institutional investors.
About Magna International
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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