Magna International (NYSE:MGA) Earns “Hold” Rating from Barclays

Barclays reissued their hold rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a research report report published on Thursday, reports. They currently have a $51.00 target price on the stock.

Other analysts also recently issued reports about the stock. Seaport Global Securities restated a buy rating on shares of Magna International in a research report on Tuesday, April 16th. BMO Capital Markets restated a sell rating on shares of Bonterra Energy in a research report on Thursday, March 21st. Zacks Investment Research upgraded shares of Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Tuesday, July 16th. Wolfe Research downgraded shares of Magna International from an outperform rating to a peer perform rating in a research report on Wednesday, May 1st. Finally, CIBC restated a market perform rating on shares of CVS Health in a research report on Monday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $57.56.

Magna International stock opened at $48.19 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.87. The firm’s 50-day moving average price is $47.05. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.62. Magna International has a 52-week low of $42.51 and a 52-week high of $61.12.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Thursday, May 9th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.10). The firm had revenue of $10.59 billion for the quarter, compared to analyst estimates of $10.60 billion. Magna International had a net margin of 6.75% and a return on equity of 19.01%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. Research analysts anticipate that Magna International will post 6.37 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGA. Norges Bank acquired a new stake in shares of Magna International during the 4th quarter valued at about $162,620,000. Liberty Wealth Management LLC acquired a new stake in shares of Magna International during the 4th quarter valued at about $32,000. Tibra Equities Europe Ltd acquired a new stake in shares of Magna International during the 1st quarter valued at about $769,000. Cardinal Capital Management Inc. grew its position in shares of Magna International by 12.4% during the 1st quarter. Cardinal Capital Management Inc. now owns 718,431 shares of the company’s stock valued at $34,981,000 after acquiring an additional 79,305 shares during the period. Finally, Legacy Advisors LLC acquired a new stake in Magna International in the 1st quarter worth about $122,000. Institutional investors and hedge funds own 57.57% 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 Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Analyst Recommendations for Magna International (NYSE:MGA)

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