Magna International Inc. (NYSE:MGA) shares, rose in value, with the stock price down by -0.23% to the previous day’s close as strong demand from buyers drove the stock to $52.18.
Actively observing the price movement in the last trading, the stock closed the session at $52.30. The PE ratio was 12.33 over 12-month period. Referring to stock’s 52-week performance, its high was $65.27, and the low was $46.71. On the whole, MGA has fluctuated by -3.76% over the past month.
The company’s Forward Dividend Ratio is 1.85, with its dividend yield at 3.56%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.27, which is expected to increase to $1.84 for fiscal year $6.09 and then to about $7.41 by fiscal year 2025. Data indicates that the EPS growth is expected to be 10.90% in 2025, while the next year’s EPS growth is forecast to be 21.70%.
Analysts have estimated the company’s revenue for the quarter at $11.03 billion, with a low estimate of $10.76 billion and a high estimate of $11.43 billion. According to the average forecast, sales growth in current quarter could jump up 11.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $44.6 billion, representing an increase of 4.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MGA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 75% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.77, with the price of MGA currently trading nearly -2.76% and -4.71% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.95, while the 7-day volatility ratio is showing 1.90% which for the 30-day chart, stands at 2.00%. Furthermore, Magna International Inc. (MGA)’s beta value is 1.68, and its average true range (ATR) is 1.13.
A comparison of Magna International Inc. (MGA) with its peers suggests the former has fared considerably weaker in the market. MGA showed an intraday change of -0.23% in last session, and over the past year, it shrunk by -0.21%%.
Data on historical trading for Magna International Inc. (NYSE:MGA) indicates that the trading volumes over the past 10 days have averaged 1.54 million and over the past 3 months, they’ve averaged 1.32 million. According to company’s latest data on outstanding shares, there are 286.55 million shares outstanding.
Nearly 6.53% of Magna International Inc.’s shares belong to company insiders and institutional investors own 69.88% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.55 million shares as on Mar 15, 2024, resulting in a short ratio of 5.95. According to the data, the short interest in Magna International Inc. (MGA) stood at 2.98% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.66 million. The stock has fallen by -11.68% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MGA stock heading into the next quarter.
