Magna International Inc. (NYSE: MGA) is -14.27% 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 $52.92 in the last trading session, with the day’s loss setting it -2.27%.
Currently trading at $50.65, the stock is -5.11% and -7.21% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.9 million and changing -4.29% at the moment leaves the stock -8.98% off its SMA200. MGA registered -3.94% loss for a year compared to 6-month gain of -6.10%. The firm has a 50-day simple moving average (SMA 50) of $0.48 and a 200-day simple moving average (SMA200) of $5.72.
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The stock witnessed a -6.39% loss in the last 1 month and extending the period to 3 months gives it a -9.91%, and is -3.63% 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 2.03% over the week and 2.10% over the month.
Magna International Inc. (MGA) has around 179000 employees, a market worth around $14.55B and $42.80B in sales. Current P/E ratio is 11.97 and Fwd P/E is 6.94. Profit margin for the company is 2.83%. Distance from 52-week low is 8.44% and -22.40% 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 $1.27 with sales reaching $11B over the same period.The EPS is expected to grow by 9.86% this year, but quarterly earnings will post 4.10% year-over-year. Quarterly sales are estimated to grow 11.00% in year-over-year returns.
697 institutions hold shares in Magna International Inc. (MGA), with institutional investors hold 79.37% of the company’s shares. The shares outstanding are 286.55M, and float is at 268.53M with Short Float at 3.18%. Institutions hold 74.53% 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.
