Are we looking at the next big move in Magna International Inc. (MGA)?

Magna International Inc. (NYSE: MGA) is -5.84% lower on its value in year-to-date trading and has touched a low of $46.71 and a high of $65.27 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MGA stock was last observed hovering at around $54.69 in the last trading session, with the day’s gains setting it 0.94%.

Currently trading at $55.63, the stock is -0.90% and -1.53% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.63 million and changing 1.72% at the moment leaves the stock 0.40% off its SMA200. MGA registered -13.87% loss for a year compared to 6-month loss of -2.83%. The firm has a 50-day simple moving average (SMA 50) of $0.52 and a 200-day simple moving average (SMA200) of $7.14.

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The stock witnessed a -2.18% gain in the last 1 month and extending the period to 3 months gives it a 7.23%, and is -1.94% down 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 3.40% over the week and 2.56% over the month.

Magna International Inc. (MGA) has around Nov 16 2023 employees, a market worth around $15.93B and $42.80B in sales. Current P/E ratio is 13.16 and Fwd P/E is 7.47. Profit margin for the company is 2.83%. Distance from 52-week low is 19.10% and -14.77% from its 52-week high. The company has generated returns on investments over the last 12 months (6.98%).

Magna International Inc. quarterly earnings per share for the current quarter are estimated at $1.47 with sales reaching $11.2B over the same period.The EPS is expected to grow by 13.36% this year, but quarterly earnings will post 4.90% year-over-year. Quarterly sales are estimated to grow 13.00% in year-over-year returns.

Magna International Inc. (MGA) Top Institutional Holders

696 institutions hold shares in Magna International Inc. (MGA), with institutional investors hold 79.46% of the company’s shares. The shares outstanding are 286.55M, and float is at 267.65M with Short Float at 2.40%. Institutions hold 74.62% of the Float.

The top institutional shareholder in the company is Royal Bank of Canada with over 15.86 million shares valued at $894.88 million. The investor’s holdings represent 5.54% of the MGA Shares outstanding. As of Jun 29, 2023, the second largest holder is Bank of America Corporation with 11.01 million shares valued at $621.14 million to account for 3.84% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 9.83 million shares representing 3.43% and valued at over $554.86 million, while Price (T.Rowe) Associates Inc holds 2.97% of the shares totaling 8.49 million with a market value of $479.45 million.

Magna International Inc. (MGA) Insider Activity

A total of 4 insider transactions have happened at Magna International Inc. (MGA) in the last six months, with sales accounting for 2 and purchases happening 2 times.

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

The company’s main competitors (and peers) include Martinrea International Inc. (MRE) that is trading 6.60% up over the past 12 months. Strattec Security Corp. (STRT) that is 29.41% higher over the same period.