Magna International (NYSE:MGA) (TSE:MG) had its price objective upped by research analysts at Citigroup from $67.00 to $77.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 15.48% from the company’s current price.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Magna International from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Wednesday, May 16th. Deutsche Bank raised their target price on Magna International from $61.00 to $68.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Bank of America set a $67.00 target price on Magna International and gave the company a “buy” rating in a report on Friday, March 16th. TD Securities raised their target price on Magna International from $65.00 to $69.00 and gave the company a “hold” rating in a report on Friday, May 11th. Finally, Susquehanna Bancshares set a $57.00 target price on Magna International and gave the company a “hold” rating in a report on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.67.
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MGA opened at $66.68 on Tuesday. The firm has a market cap of $23.62 billion, a P/E ratio of 11.19, a PEG ratio of 1.11 and a beta of 1.34. Magna International has a 1 year low of $43.18 and a 1 year high of $67.47. The company has a quick ratio of 0.89, a current ratio of 1.24 and a debt-to-equity ratio of 0.26.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Thursday, May 10th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.18. The firm had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.02 billion. Magna International had a return on equity of 19.64% and a net margin of 5.65%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. analysts predict that Magna International will post 6.99 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of MGA. CIBC Asset Management Inc increased its stake in shares of Magna International by 131.0% in the first quarter. CIBC Asset Management Inc now owns 2,515,712 shares of the company’s stock worth $141,488,000 after purchasing an additional 1,426,589 shares during the period. Schroder Investment Management Group increased its stake in shares of Magna International by 101.0% in the first quarter. Schroder Investment Management Group now owns 1,661,752 shares of the company’s stock worth $120,593,000 after purchasing an additional 835,205 shares during the period. CIBC World Markets Inc. increased its stake in shares of Magna International by 11.3% in the first quarter. CIBC World Markets Inc. now owns 4,885,794 shares of the company’s stock worth $275,314,000 after purchasing an additional 494,591 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of Magna International in the first quarter worth about $25,563,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Magna International by 121.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 399,335 shares of the company’s stock worth $22,478,000 after purchasing an additional 218,956 shares during the period. Institutional investors and hedge funds own 59.93% of the company’s stock.
About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.