Magna International (TSE:MG) Issues Earnings Results

Magna International (TSE:MG) (NYSE:MGA) announced 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 Stock Up 18.9%

Magna International stock opened at C$93.52 on Friday. Magna International has a 12 month low of C$43.25 and a 12 month high of C$95.18. The stock has a fifty day simple moving average of C$74.48 and a two-hundred day simple moving average of C$67.95. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81. The firm has a market cap of C$26.36 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 0.45 and a beta of 1.80.

Analyst Ratings Changes

Separately, BMO Capital Markets upgraded Magna International to a “strong-buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.