Magna International (TSE:MG) Raised to “Strong-Buy” at Scotiabank

Magna International (TSE:MG) (NYSE:MGA) was upgraded by Scotiabank from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Separately, Canadian Imperial Bank of Commerce raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$61.00.

Magna International Stock Up 0.9%

Shares of TSE MG opened at C$85.96 on Thursday. The stock has a market capitalization of C$23.76 billion, a P/E ratio of 29.34, a PEG ratio of 0.45 and a beta of 1.91. The stock’s fifty day moving average is C$81.00 and its 200 day moving average is C$74.28. Magna International has a 52 week low of C$44.85 and a 52 week high of C$95.18. The company has a debt-to-equity ratio of 66.74, a quick ratio of 0.83 and a current ratio of 1.25.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings data on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. The business had revenue of C$14.27 billion during the quarter. Magna International had a net margin of 1.97% and a return on equity of 6.73%. Sell-side analysts forecast that Magna International will post 8.8948171 earnings per share for the current fiscal year.

About Magna International

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.