Magna International (TSE:MG) Trading 18.9% Higher – What’s Next?

Magna International Inc. (TSE:MGGet Free Report) (NYSE:MGA) shares traded up 18.9% on Saturday . The company traded as high as C$95.18 and last traded at C$93.52. 3,697,979 shares traded hands during mid-day trading, an increase of 171% from the average session volume of 1,365,328 shares. The stock had previously closed at C$78.63.

Analyst Ratings Changes

Separately, BMO Capital Markets raised Magna International to a “strong-buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$61.00.

View Our Latest Research Report on Magna International

Magna International Trading Up 18.9%

The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The company’s 50-day moving average is C$74.48 and its 200-day moving average is C$67.88. The stock has a market capitalization of C$26.36 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 0.45 and a beta of 1.80.

Magna International (TSE:MGGet Free Report) (NYSE:MGA) last posted its quarterly earnings results on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. The business had revenue of C$14.89 billion during the quarter. Magna International had a net margin of 2.52% and a return on equity of 9.11%. Research analysts anticipate that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Company Profile

(Get Free Report)

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.

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