Magna International (TSE:MG) Announces Earnings Results

Magna International (TSE:MG) (NYSE:MGA) posted its quarterly earnings data on Friday. The company reported C$2.99 earnings per share (EPS) for the quarter, FiscalAI reports. Magna International had a return on equity of 9.11% and a net margin of 2.52%.The business had revenue of C$14.89 billion during the quarter.

Magna International Price Performance

Shares of MG traded up C$16.00 during midday trading on Friday, reaching C$94.63. The stock had a trading volume of 2,812,326 shares, compared to its average volume of 1,332,074. The company has a market capitalization of C$26.67 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.45 and a beta of 1.80. The company’s 50-day moving average is C$73.97 and its 200 day moving average is C$67.63. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81. Magna International has a 12-month low of C$43.25 and a 12-month high of C$94.77.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets upgraded Magna International to a “strong-buy” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of C$61.00.

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.