Magna International (TSE:MG) Upgraded to “Moderate Buy” at Royal Bank of Canada

Magna International (TSE:MGGet Free Report) (NYSE:MGA) was upgraded by equities researchers at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a report released on Friday,Zacks.com reports.

A number of other brokerages have also recently issued reports on MG. The Goldman Sachs Group cut shares of Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th. Wolfe Research upgraded Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th.

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Magna International Trading Up 2.2 %

Shares of MG opened at C$59.00 on Friday. The stock’s 50-day moving average price is C$60.90 and its 200 day moving average price is C$58.58. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 62.12. The firm has a market capitalization of C$16.95 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.45 and a beta of 1.60. Magna International has a 12-month low of C$51.79 and a 12-month high of C$79.98.

Magna International (TSE:MGGet Free Report) (NYSE:MGA) last released its quarterly earnings data on Friday, November 1st. The company reported C$1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.03 by C($0.28). Magna International had a net margin of 2.29% and a return on equity of 9.03%. During the same period in the prior year, the firm earned $1.96 EPS. As a group, research analysts predict that Magna International will post 8.8948171 earnings per share for the current year.

About Magna International

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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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