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

Magna International (TSE:MG) (NYSE:MGA) was upgraded by equities researchers at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a research note issued on Friday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Wolfe Research upgraded shares of Magna International from a “strong sell” rating to a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group downgraded Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th.

Magna International Stock Up 2.2 %

MG opened at C$59.00 on Friday. The business has a 50 day simple moving average of C$60.96 and a 200-day simple moving average of C$58.58. Magna International has a 12 month low of C$51.79 and a 12 month high of C$79.98. The stock has a market capitalization of C$16.95 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a current ratio of 1.12 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results 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 quarter last year, the company earned $1.96 EPS. On average, equities analysts anticipate that Magna International will post 8.8948171 earnings per share for the current fiscal year.

About Magna International

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.