Magna International (TSE:MG) Hits New 52-Week High – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price reached a new 52-week high on Friday . The stock traded as high as C$93.27 and last traded at C$92.14, with a volume of 1338572 shares trading hands. The stock had previously closed at C$78.63.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets raised shares of Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$61.00.

Magna International Price Performance

The firm has a market capitalization of C$26.36 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 0.45 and a beta of 1.80. The company’s 50 day moving average is C$74.48 and its 200 day moving average is C$67.95. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%.The firm had revenue of C$14.89 billion during the quarter. On average, equities research analysts anticipate that Magna International Inc. 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.