Magna International Inc. [MGA] shares are up more than 9.44% this year and recently decreased -0.0% or -$0.01 to settle at $60.87. Analysts expect MGA to grow earnings at a 8.73% annual rate over the next 5 years. MGA has a short ratio of 2.41. This implies that the market is currently less bullish on the outlook for MGA.

On 11, November 2020, TSX Accepts Notice of Intention to Make Normal Course Issuer Bid. According to news published on Yahoo Finance, Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange (“TSX”) had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the “Notice”). Pursuant to the Notice, Magna may purchase up to 29,623,300 Magna Common Shares (the “Bid”), representing approximately 10% of its public float. As at November 2, 2020, Magna had 299,263,809 issued and outstanding Common Shares, including a public float of 296,233,190 Common Shares.

Analyst Birdseye View:

The most recent analyst activity for Magna International Inc. [NYSE:MGA] stock was on November 09, 2020, when it was Downgrade with an Underweight rating from Morgan Stanley. Before that, on November 09, 2020, BMO Capital Markets Recapitulated an Outperform rating and elevated its amount target to $70. On April 27, 2020, Credit Suisse Upgrade an Outperform rating and plunged its price target on this stock from $55 to $50. On April 15, 2020, Goldman Initiated a Neutral rating and increased its price target to $35. On March 30, 2020, Morgan Stanley Upgrade an Equal-weight rating. On March 24, 2020, KeyBanc Capital Markets Upgrade an Overweight rating and boosted its amount on this stock to $40. On January 09, 2020, The Benchmark Company Initiated a Buy rating and boosted its target amount on this stock to $68. RBC Capital Mkts elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $22.75 and a peak of $61.29. Right now, the middling Wall Street analyst 12-month amount mark is $68.00. At the most recent market close, shares of Magna International Inc. [NYSE:MGA] were valued at $60.87. According to the average price forecast, investors can expect a potential return of 1.28%.

FUNDAMENTAL ANALYSIS

Magna International Inc. [NYSE:MGA] most recently reported quarterly sales of 12.16 billion, which represented growth of -2.00%. This publicly-traded organization’s revenue is $317,402 per employee, while its income is $14,194 per employee. This company’s Gross Margin is currently 12.50%, its Operating Margin is 1.90%, its Pretax Margin is +5.18, and its Net Margin is +4.47. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 6.80, 16.34, 14.94 and 12.03 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 31.56 and the whole liability to whole assets at 19.36. It shows enduring liability to the whole principal at 29.47 and enduring liability to assets at 0.18 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 59.93 points at 1st support level, the second support level is making up to 59.00. But as of 1st resistance point, this stock is sitting at 61.51 and at 62.16 for 2nd resistance point.

Magna International Inc. [MGA] reported its earnings at $1.95 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $1.35/share signifying the difference of 0.6 and 44.40% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$1.71 calling estimates for -$1.63/share with the difference of -0.08 depicting the surprise of -4.90%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Magna International Inc. [NYSE:MGA] is 1.30. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.16. Now if looking for a valuation of this stock’s amount to sales ratio it’s 0.43, it’s amount to book ratio is 1.54 and showing 40.99 of P/E (TTM) ratio.