Stock analysts at Canaccord Genuity hoisted their price target on shares of Magna International (NYSE:MGA) from $89.00 to $91.00 in a report issued on Friday, AnalystRatings.Net reports. Canaccord Genuity’s price objective indicates a potential upside of 9.90% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Magna International to $85.00 in a research note to investors on Friday. Separately, analysts at Deutsche Bank raised their price target on shares of Magna International from $74.00 to $78.00 in a research note to investors on Thursday, November 7th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Magna International in a research note to investors on Thursday, November 7th. They now have a $103.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $79.11.
Magna International (NYSE:MGA) traded up 0.39% on Friday, hitting $83.12. The stock had a trading volume of 246,442 shares. Magna International has a one year low of $44.51 and a one year high of $88.76. The stock has a 50-day moving average of $84.43 and a 200-day moving average of $76.76. The company has a market cap of $18.585 billion and a P/E ratio of 13.29.
Magna International (NYSE:MGA) last released its earnings data on Wednesday, November 6th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.35 by $0.04. The company had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the company posted $1.66 earnings per share. Magna International’s revenue was up 12.5% compared to the same quarter last year. Analysts expect that Magna International will post $6.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, November 27th.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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