Magna International Inc. (NYSE:MGA) shares, rose in value, with the stock price up by 0.32% to the previous day’s close as strong demand from buyers drove the stock to $41.40.
Actively observing the price movement in the last trading, the stock closed the session at $41.27, falling within a range of $41.29 and $41.92. The value of beta (5-year monthly) was 1.6 whereas the PE ratio was 12.03 over 12-month period. Referring to stock’s 52-week performance, its high was $60.32, and the low was $38.01. On the whole, MGA has fluctuated by 5.02% over the past month.
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With the market capitalization of Magna International Inc. currently standing at about $11.90 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-01. The company’s Forward Dividend Ratio is 1.89, with its dividend yield at 4.55%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 42.94B, with a low estimate of 9.85B and a high estimate of 11.04B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 10.44B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MGA’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% 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 0.83, with the price of MGA currently trading nearly 0.06% and 1.54% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.38, while the 7-day volatility ratio is showing 2.00% which for the 30-day chart, stands at 2.33%. Furthermore, Magna International Inc. (MGA)’s beta value is 1.57, and its average true range (ATR) is 1.10.
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 0.32% in last session, and over the past year, it shrunk by -24.16%%.
Data on historical trading for Magna International Inc. (NYSE:MGA) indicates that the trading volumes over the past 10 days have averaged 1.09 and over the past 3 months, they’ve averaged 1.61 million. According to company’s latest data on outstanding shares, there are 286.55 million shares outstanding.
Nearly 6.60% of Magna International Inc.’s shares belong to company insiders and institutional investors own 70.39% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.74 million shares as on 2024-09-30, resulting in a short ratio of 5.15. The stock has fallen by -29.93% 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.
