Magna International (TSE:MG) Upgraded at Scotiabank

Scotiabank upgraded shares of Magna International (TSE:MG) (NYSE:MGA) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Canadian Imperial Bank of Commerce upgraded 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$61.00.

Magna International Stock Up 0.9%

Shares of TSE:MG opened at C$85.96 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.25 and a debt-to-equity ratio of 66.74. The business has a fifty day moving average of C$81.00 and a two-hundred day moving average of C$74.34. The stock has a market cap of C$23.76 billion, a P/E ratio of 29.34, a PEG ratio of 0.45 and a beta of 1.91. Magna International has a 52-week low of C$44.85 and a 52-week high of C$95.18.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, February 13th. The company reported C$2.99 earnings per share (EPS) for the quarter. The company had revenue of C$14.27 billion during the quarter. Magna International had a return on equity of 6.73% and a net margin of 1.97%. On average, research analysts expect that Magna International will post 8.8948171 earnings per share for the current 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.