Magna International Rating Increased to Hold at Societe Generale (MGA)
A number of other analysts have also recently weighed in on MGA. Analysts at Goldman Sachs (NYSE: GS) downgraded shares of Magna International from a “neutral” rating to a “sell” rating in a research note to investors on Monday, April 16th. Separately, analysts at Citigroup (NYSE: C) downgraded shares of Magna International from a “neutral” rating to a “sell” rating in a research note to investors on Thursday, March 29th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Magna International in a research note to investors on Thursday, March 15th. They now have a $51.00 price target on the stock.
Shares of Magna International traded up 1.38% during mid-day trading on Monday, hitting $42.67. Magna International has a 52 week low of $30.03 and a 52 week high of $54.44. The company has a market cap of $9.962 billion and a P/E ratio of 9.69.
Magna International last announced its earnings results on Thursday, February 23rd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.31. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts predict that Magna International will post $1.02 earnings per share next quarter.
Magna International Inc. (Magna) is a diversified global automotive supplier. The Company designs, develops and manufactures automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks.