Magna International Inc. (NYSE:MGA) Receives $63.86 Average Price Target from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average recommendation of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $62.93.

MGA has been the topic of several recent analyst reports. Evercore downgraded shares of Magna International from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $75.00 to $62.00 in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of Magna International from $77.00 to $69.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Scotiabank dropped their target price on shares of Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th. Barclays dropped their target price on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, CIBC dropped their target price on shares of Magna International from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, February 12th.

Magna International Trading Down 1.9 %

MGA stock opened at $47.84 on Monday. The company has a market capitalization of $13.74 billion, a PE ratio of 11.34, a P/E/G ratio of 0.50 and a beta of 1.69. Magna International has a 12 month low of $46.71 and a 12 month high of $65.27. The firm’s 50-day moving average is $53.56 and its 200 day moving average is $54.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, research analysts anticipate that Magna International will post 6.11 EPS for the current year.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.475 dividend. This is a boost from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 22nd. Magna International’s dividend payout ratio (DPR) is currently 45.02%.

Institutional Trading of Magna International

Institutional investors have recently modified their holdings of the company. Thomas White International Ltd. boosted its stake in Magna International by 8.6% in the 1st quarter. Thomas White International Ltd. now owns 13,142 shares of the company’s stock worth $845,000 after purchasing an additional 1,043 shares in the last quarter. Achmea Investment Management B.V. acquired a new stake in Magna International in the 1st quarter worth approximately $2,036,000. Power Corp of Canada acquired a new stake in Magna International in the 1st quarter worth approximately $574,000. BNP Paribas Arbitrage SA boosted its stake in Magna International by 549.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 26,177 shares of the company’s stock worth $1,683,000 after purchasing an additional 22,147 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its stake in Magna International by 272.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 72,430 shares of the company’s stock worth $3,435,000 after purchasing an additional 52,971 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.