Magna International Inc. (NYSE:MGA) Given Average Rating of “Hold” by Brokerages

Magna International Inc. (NYSE:MGAGet Rating) (TSE:MG) has been given a consensus rating of “Hold” by the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $69.15.

A number of equities analysts have commented on the stock. Raymond James reduced their price objective on shares of Magna International from $68.00 to $62.00 and set a “market perform” rating for the company in a research report on Tuesday, September 27th. Citigroup lifted their price objective on shares of Magna International from $62.00 to $66.00 in a research report on Friday, January 13th. Bank of America cut shares of Magna International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $72.00 in a research report on Monday, January 9th. StockNews.com assumed coverage on shares of Magna International in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Benchmark reduced their target price on shares of Magna International from $77.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, November 8th.

Magna International Price Performance

NYSE:MGA opened at $63.88 on Friday. Magna International has a 1-year low of $45.58 and a 1-year high of $83.68. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $59.95 and a 200 day simple moving average of $57.70. The stock has a market capitalization of $18.27 billion, a PE ratio of 19.84, a P/E/G ratio of 0.79 and a beta of 1.52.

Magna International (NYSE:MGAGet Rating) (TSE:MG) last released its quarterly earnings data on Friday, November 4th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.06). Magna International had a return on equity of 11.41% and a net margin of 2.57%. The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.34 billion. On average, research analysts expect that Magna International will post 4.54 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Friday, November 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Thursday, November 17th. Magna International’s dividend payout ratio (DPR) is presently 55.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MGA. Quent Capital LLC raised its stake in Magna International by 616.7% in the second quarter. Quent Capital LLC now owns 516 shares of the company’s stock valued at $28,000 after purchasing an additional 444 shares in the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in Magna International during the second quarter worth about $30,000. Counterpoint Mutual Funds LLC raised its stake in Magna International by 484.3% during the second quarter. Counterpoint Mutual Funds LLC now owns 2,004 shares of the company’s stock worth $110,000 after acquiring an additional 1,661 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in Magna International by 6.7% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 3,017 shares of the company’s stock worth $143,000 after acquiring an additional 189 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Magna International by 159.3% during the fourth quarter. UMB Bank n.a. now owns 2,686 shares of the company’s stock worth $151,000 after acquiring an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.

About Magna International

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Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.

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Analyst Recommendations for Magna International (NYSE:MGA)

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