Magna International (NYSE:MGA) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other equities research analysts also recently weighed in on the stock. TD Securities cut their target price on shares of Magna International from $69.00 to $63.00 and set a buy rating on the stock in a research note on Monday. Scotiabank dropped their price objective on shares of Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Citigroup dropped their price objective on shares of Magna International from $60.00 to $57.00 and set a neutral rating on the stock in a research report on Monday, February 12th. Barclays dropped their price objective on shares of Magna International from $63.00 to $62.00 and set an equal weight rating on the stock in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group downgraded shares of Magna International from a buy rating to a neutral rating and dropped their price objective for the company from $73.00 to $58.00 in a research report on Wednesday, January 3rd. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Magna International presently has a consensus rating of Hold and a consensus price target of $62.50.

Magna International Stock Performance

Shares of MGA stock opened at $49.20 on Wednesday. The firm’s 50 day moving average price is $53.01 and its 200-day moving average price is $54.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. Magna International has a one year low of $46.71 and a one year high of $65.27. The firm has a market cap of $14.13 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.50 and a beta of 1.69.

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

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.475 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.90 dividend on an annualized basis and a yield of 3.86%. This is a boost from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio is currently 45.02%.

Institutional Trading of Magna International

Large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. boosted its stake in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Magna International during the 1st quarter worth $49,000. S.A. Mason LLC boosted its stake in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after purchasing an additional 229 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

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.