Magna International (TSE:MG) Trading 18.9% Higher – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price was up 18.9% during mid-day trading on Saturday . The stock traded as high as C$95.18 and last traded at C$93.52. Approximately 3,697,979 shares traded hands during trading, an increase of 171% from the average daily volume of 1,365,328 shares. The stock had previously closed at C$78.63.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets upgraded Magna International to a “strong-buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$61.00.

Magna International Trading Up 18.9%

The company has a 50 day simple moving average of C$74.48 and a 200 day simple moving average of C$67.88. The company has a market capitalization of C$26.36 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 0.45 and a beta of 1.80. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Friday, February 13th. The company reported C$2.99 earnings per share (EPS) for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%.The firm had revenue of C$14.89 billion for the quarter. Analysts anticipate that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Company Profile

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.