Royal Bank of Canada Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by Royal Bank of Canada from $52.00 to $51.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 34.01% from the stock’s current price.

Several other research firms have also recently weighed in on MGA. Barclays reduced their price objective on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered shares of Magna International from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. CIBC upped their price objective on shares of Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Scotiabank reduced their target price on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.88.

Magna International Stock Performance

Magna International stock traded up $0.21 on Tuesday, reaching $38.06. 1,132,565 shares of the stock were exchanged, compared to its average volume of 1,731,230. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a twelve month low of $35.05 and a twelve month high of $56.12. The firm has a fifty day moving average price of $40.99 and a two-hundred day moving average price of $41.61. The stock has a market cap of $10.77 billion, a PE ratio of 10.18, a PEG ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Magna International will post 5.23 EPS for the current year.

Institutional Trading of Magna International

Several large investors have recently added to or reduced their stakes in MGA. ARGA Investment Management LP boosted its holdings in shares of Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after acquiring an additional 1,568,953 shares in the last quarter. Russell Investments Group Ltd. raised its position in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after purchasing an additional 822,375 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Magna International by 1.2% in the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after buying an additional 18,704 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Magna International by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after buying an additional 371,437 shares during the last quarter. Finally, Mufg Securities Canada LTD. grew its holdings in Magna International by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after acquiring an additional 172,754 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.