Magna International Inc. (MGA) – Don’t Believe the Hype: Check The Facts

651 institutions hold shares in Magna International Inc. (MGA), with 22.39M shares held by insiders accounting for 7.45% while institutional investors hold 74.96% of the company’s shares. The shares outstanding are 298.70M, and float is at 276.97M with Short Float at 0.57%. Institutions hold 69.38% of the Float.


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The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 17.86 million shares valued at $1.26 billion. The investor’s holdings represent 5.94% of the MGA Shares outstanding. As of Dec 30, 2020, the second largest holder is Royal Bank of Canada with 12.55 million shares valued at $888.55 million to account for 4.18% of the shares outstanding. The other top investors are Beutel, Goodman & Company Ltd which holds 8.75 million shares representing 2.91% and valued at over $619.74 million, while Jarislowsky, Fraser Ltd holds 2.83% of the shares totaling 8.5 million with a market value of $601.96 million.

Magna International Inc. (NYSE: MGA) is 21.23% higher on its value in year-to-date trading and has touched a low of $22.75 and a high of $87.57 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MGA stock was last observed hovering at around $86.75 in the last trading session, with the day’s loss setting it -0.92% off its average median price target of $98.00 for the next 12 months. It is also 21.97% off the consensus price target high of $110.00 offered by 18 analysts, but current levels are -40.7% lower than the price target low of $61.00 for the same period.

Currently trading at $85.83, the stock is 12.69% and 18.10% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.54 million and changing -1.06% at the moment leaves the stock 55.71% off its SMA200. MGA registered 72.77% gain for a year compared to 6-month gain of 69.42%. The firm has a 50-day simple moving average (SMA 50) of $75.65 and a 200-day simple moving average (SMA200) of $60.33.

The stock witnessed a 12.93% loss in the last 1 month and extending the period to 3 months gives it a 41.21%, and is 9.41% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.64% over the week and 3.24% over the month.

Magna International Inc. (MGA) has around 157000 employees, a market worth around $23.25B and $31.47B in sales. Current P/E ratio is 57.80 and Fwd P/E is 11.05. Profit margin for the company is -0.60%. Distance from 52-week low is 277.27% and -1.99% from its 52-week high. The company has generated returns on investments over the last 12 months (11.70%).

Magna International Inc. (MGA) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Magna International Inc. (MGA) is a “Overweight”. 18 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Magna International Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $1.59 with sales reaching $9.71B over the same period.The EPS is expected to shrink by -15.80% this year, but quarterly earnings will post 23.50% year-over-year. Quarterly sales are estimated to grow 12.20% in year-over-year returns.

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Magna International Inc. (MGA): Who are the competitors?

The company’s main competitors (and peers) include Strattec Security Corporation (STRT) that is 108.97% higher over the past 12 months. BorgWarner Inc. (BWA) is 39.55% up on the 1-year trading charts. Short interest in the company’s stock has fallen -19.62% from the last report on Dec 30, 2020 to stand at a total of 1.89 million short shares sold with a short interest ratio of 0.98.

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