Magna International, Inc. (MGA) Rating Reiterated by BMO Capital Markets

Magna International, Inc. (NYSE:MGA) (TSE:MG)‘s stock had its “hold” rating restated by analysts at BMO Capital Markets in a note issued to investors on Friday, September 15th. They currently have a $47.00 price objective on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 11.95% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, September 14th. ValuEngine lowered shares of Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $56.00 to $47.00 in a research report on Monday, August 28th. Citigroup Inc. boosted their target price on shares of Magna International from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, TD Securities boosted their target price on shares of Magna International from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.20.

Shares of Magna International (MGA) opened at 53.38 on Friday. Magna International has a one year low of $36.77 and a one year high of $53.74. The company has a market cap of $19.75 billion, a P/E ratio of 9.64 and a beta of 1.43. The company has a 50 day moving average price of $47.98 and a 200 day moving average price of $45.15.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.01. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.50 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that Magna International will post $5.89 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Magna International by 34.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,020,359 shares of the company’s stock valued at $93,453,000 after acquiring an additional 521,929 shares during the period. Schroder Investment Management Group grew its position in shares of Magna International by 28.4% during the 1st quarter. Schroder Investment Management Group now owns 1,852,568 shares of the company’s stock valued at $107,838,000 after acquiring an additional 410,007 shares during the period. DnB Asset Management AS grew its position in shares of Magna International by 1.8% during the 2nd quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after acquiring an additional 27,384 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Magna International by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,173,053 shares of the company’s stock valued at $54,242,000 after acquiring an additional 26,742 shares during the period. Finally, Cardinal Capital Management Inc. grew its position in shares of Magna International by 2,712.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 987,200 shares of the company’s stock valued at $45,676,000 after acquiring an additional 952,100 shares during the period. 59.50% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

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.

Analyst Recommendations for Magna International (NYSE:MGA)




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