After Achieving 52-Week High, Is Magna International Inc. (MGA)’s Near-Term Analysis Positive?

May 17, 2018 - By Mona Holcomb

Magna International Inc. (NYSE:MGA) Logo

The stock of Magna International Inc. (NYSE:MGA) hit a new 52-week high and has $71.64 target or 8.00 % above today’s $66.33 share price. The 9 months bullish chart indicates low risk for the $23.26 billion company. The 1-year high was reported on May, 17 by Barchart.com. If the $71.64 price target is reached, the company will be worth $1.86 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.12% or $0.08 during the last trading session, reaching $66.33. About 555,817 shares traded. Magna International Inc. (NYSE:MGA) has risen 26.62% since May 17, 2017 and is uptrending. It has outperformed by 15.07% the S&P500.

Analysts await Magna International Inc. (NYSE:MGA) to report earnings on August, 10. They expect $1.73 earnings per share, up 16.89 % or $0.25 from last year’s $1.48 per share. MGA’s profit will be $606.61M for 9.59 P/E if the $1.73 EPS becomes a reality. After $1.84 actual earnings per share reported by Magna International Inc. for the previous quarter, Wall Street now forecasts -5.98 % negative EPS growth.

Magna International Inc. (NYSE:MGA) Ratings Coverage

Among 10 analysts covering Magna International (NYSE:MGA), 7 have Buy rating, 1 Sell and 2 Hold. Therefore 70% are positive. Magna International had 17 analyst reports since December 5, 2017 according to SRatingsIntel. The stock of Magna International Inc. (NYSE:MGA) earned “Buy” rating by KeyBanc Capital Markets on Tuesday, January 16. The firm has “Buy” rating by RBC Capital Markets given on Thursday, February 22. The firm has “Buy” rating given on Monday, May 14 by BMO Capital Markets. The firm has “Hold” rating given on Wednesday, March 14 by Susquehanna. The firm earned “Buy” rating on Wednesday, January 10 by RBC Capital Markets. The firm has “Buy” rating given on Monday, May 14 by Evercore. TD Securities downgraded the shares of MGA in report on Friday, January 19 to “Hold” rating. The stock of Magna International Inc. (NYSE:MGA) earned “Buy” rating by Wells Fargo on Friday, January 12. The rating was maintained by RBC Capital Markets with “Buy” on Wednesday, January 17. The stock has “Sell” rating by Morgan Stanley on Thursday, March 22.

More notable recent Magna International Inc. (NYSE:MGA) news were published by: Globenewswire.com which released: “Magna Wins LiDAR Business With BMW Group” on April 26, 2018, also Globenewswire.com with their article: “Magna Announces Record First Quarter Results” published on May 10, 2018, Benzinga.com published: “Magna International Has Strength In Automotive Growth Areas, BMO Says In Upgrade” on May 14, 2018. More interesting news about Magna International Inc. (NYSE:MGA) were released by: Streetinsider.com and their article: “Evercore ISI Starts Magna Int’l (MGA) at Outperform” published on May 14, 2018 as well as Globenewswire.com‘s news article titled: “Magna Opens New Body & Chassis Plant in Mexico” with publication date: April 19, 2018.

Magna International Inc. designs, develops, and makes automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company has market cap of $23.26 billion. The firm offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards. It has a 11.24 P/E ratio. It also provides interior and exterior mirrors, actuators, electronic vision systems, door handle and overhead console technologies, and front and signal lightings; complete seating systems, mechanism solutions, seat structure solutions, foam and trim products, and design and development solutions; and fascia and exterior trims, liftgate and exterior modules, front end modules, ACTERO active aerodynamics, and lightweight composites.

Magna International Inc. (NYSE:MGA) Ratings Chart

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