BNP Paribas Upgrades Magna International (TSE:MG) to Strong-Buy
BNP Paribas has upgraded Magna International from a "hold" to a "strong-buy" rating. Magna International, a vehicle component manufacturer, had a 1-year low of C$55.93 and a 1-year high of C$87.00. The company reported lower than expected earnings for the quarter. However, equities analysts anticipate a positive EPS for the current fiscal year.
Magna International (TSE:MG - Get Free Report) NYSE: MGA was upgraded by equities research analysts at BNP Paribas from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks.com reports.
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Magna International Stock Performance
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MG opened at C$57.34 on Monday. Magna International has a 1-year low of C$55.93 and a 1-year high of C$87.00. The stock has a market cap of C$16.47 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.58 and a beta of 1.70. The stock's 50 day simple moving average is C$62.16 and its 200 day simple moving average is C$69.87. The company has a debt-to-equity ratio of 66.45, a current ratio of 1.09 and a quick ratio of 0.83.
Magna International (TSE:MG - Get Free Report) NYSE: MGA last posted its earnings results on Friday, May 3rd. The company reported C$1.46 earnings per share for the quarter, missing the consensus estimate of C$1.67 by C($0.21). Magna International had a net margin of 2.35% and a return on equity of 9.35%. The firm had revenue of C$14.79 billion during the quarter, compared to analyst estimates of C$14.96 billion. As a group, equities analysts anticipate that Magna International will post 7.7401198 EPS for the current fiscal year.
Magna International Company Profile
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Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.
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