Magna International (TSE:MG) Cut to “Hold” at BMO Capital Markets

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

Magna International Stock Performance

Shares of Magna International stock opened at C$88.58 on Thursday. The stock has a market cap of C$23.70 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 0.45 and a beta of 2.04. The firm’s 50-day moving average is C$94.14 and its 200 day moving average is C$88.14. Magna International has a 1 year low of C$60.67 and a 1 year high of C$101.10. The company has a debt-to-equity ratio of 55.07, a current ratio of 1.22 and a quick ratio of 0.83.

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 for the quarter. Magna International had a net margin of 1.77% and a return on equity of 6.15%. Sell-side analysts anticipate that Magna International will post 8.8948171 EPS for the current fiscal year.

Insider Buying and Selling at Magna International

In related news, insider Bruce Cluney sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 40,239 shares in the company, valued at C$3,831,557.58. The trade was a 11.05% decrease in their position. 6.18% of the stock is owned by company 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.