Magna International (TSE:MG) Upgraded at Canadian Imperial Bank of Commerce

Magna International (TSE:MG) (NYSE:MGA) was upgraded by investment analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Separately, BMO Capital Markets upgraded shares of Magna International to a “strong-buy” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$61.00.

Magna International Stock Up 0.5%

Shares of TSE:MG opened at C$91.58 on Wednesday. The stock has a market capitalization of C$25.66 billion, a P/E ratio of 31.26, a price-to-earnings-growth ratio of 0.45 and a beta of 1.80. The stock’s 50-day moving average price is C$75.86 and its 200-day moving average price is C$68.69. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81. Magna International has a 12-month low of C$43.25 and a 12-month high of C$95.18.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%.The company had revenue of C$14.89 billion during the quarter. On average, equities analysts anticipate that Magna International 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.