BMO Capital Markets Downgrades Magna International (TSE:MG) to Hold

Magna International (TSE:MG) (NYSE:MGA) was downgraded by stock analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

Magna International Stock Down 2.4%

MG stock opened at C$88.58 on Thursday. Magna International has a twelve month low of C$60.67 and a twelve month high of C$101.10. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 55.07. The company has a market cap of C$23.70 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 0.45 and a beta of 2.04. The business’s 50-day simple moving average is C$94.14 and its 200 day simple moving average is C$88.14.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings data on Friday, July 31st. The company reported C$2.64 EPS for the quarter. The company had revenue of C$15.60 billion during the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%. On average, research analysts anticipate that Magna International will post 8.8948171 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bruce Cluney sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of C$95.22, for a total value of C$476,100.00. Following the completion of the transaction, the insider owned 40,239 shares of the company’s stock, valued at C$3,831,557.58. This represents a 11.05% decrease in their ownership of the stock. 6.18% of the stock is currently owned by insiders.

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.