Magna International, Inc. (NYSE:MGA) (TSE:MG) – KeyCorp upped their FY2017 earnings estimates for Magna International in a note issued to investors on Friday. KeyCorp analyst B. Hoselton now anticipates that the company will post earnings of $5.87 per share for the year, up from their prior forecast of $5.85. KeyCorp has a “Buy” rating and a $59.00 price target on the stock.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, September 6th. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $47.00 in a research report on Monday, August 28th. Cormark upgraded shares of Magna International from a “buy” rating to a “top pick” rating in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) downgraded shares of Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $45.00 to $41.00 in a research report on Monday. Finally, ValuEngine downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.00.

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Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The firm had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.50 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. increased its stake in shares of Magna International by 0.8% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 8,168 shares of the company’s stock valued at $378,000 after acquiring an additional 68 shares in the last quarter. Laurel Wealth Advisors Inc. increased its stake in shares of Magna International by 5.1% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after acquiring an additional 261 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Magna International by 17.2% in the 2nd quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after acquiring an additional 625 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Magna International by 19.5% in the 2nd quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after acquiring an additional 654 shares in the last quarter. Finally, Bank of Hawaii increased its stake in shares of Magna International by 26.5% in the 2nd quarter. Bank of Hawaii now owns 7,057 shares of the company’s stock valued at $327,000 after acquiring an additional 1,479 shares in the last quarter. Institutional investors own 59.41% of the company’s stock.

Magna International Company Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Earnings History and Estimates for Magna International (NYSE:MGA)

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