Magna International (TSE:MG) Upgraded by Veritas to Strong-Buy Rating

Magna International (TSE:MG) (NYSE:MGA) was upgraded by stock analysts at Veritas to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Four equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$61.00.

Magna International Price Performance

Shares of TSE:MG opened at C$81.02 on Monday. The company has a 50 day moving average of C$80.46 and a 200 day moving average of C$75.06. The stock has a market cap of C$22.40 billion, a P/E ratio of 34.19, a P/E/G ratio of 0.45 and a beta of 1.91. Magna International has a 12 month low of C$44.85 and a 12 month high of C$95.18. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 17.27.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings data on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The company had revenue of C$14.43 billion during the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. As a group, sell-side analysts forecast that Magna International will post 8.8948171 EPS for the current fiscal year.

Magna International Company Profile

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.