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

Magna International (TSE:MG) (NYSE:MGA) was downgraded by investment 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 Price Performance

MG opened at C$88.58 on Thursday. The stock has a fifty day simple moving average of C$94.14 and a two-hundred day simple moving average of C$88.14. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 55.07. The company has a market cap of C$23.70 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 0.45 and a beta of 2.04. Magna International has a 12-month low of C$60.67 and a 12-month high of C$101.10.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Friday, July 31st. The company reported C$2.64 EPS for the quarter. The firm 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%. Research analysts predict that Magna International will post 8.8948171 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Magna International news, insider Bruce Cluney sold 5,000 shares of the company’s 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 sale, the insider owned 40,239 shares in the company, valued at approximately C$3,831,557.58. This represents a 11.05% decrease in their ownership of the stock. Company insiders own 6.18% of the company’s stock.

About Magna International

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.