Magna International Inc. (NYSE:MGA) Receives Average Recommendation of “Hold” from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $60.00.

A number of equities analysts have recently commented on the stock. Barclays cut their price objective on shares of Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday. Raymond James cut their price target on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Monday. Wells Fargo & Company decreased their price target on shares of Magna International from $52.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Securities decreased their target price on Magna International from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday.

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. increased its stake in Magna International by 2,179.2% in 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 raised its holdings in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after buying an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Magna International during the 1st quarter valued at $49,000. S.A. Mason LLC grew its holdings in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Magna International by 50.8% in the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the period. Institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

Shares of NYSE:MGA opened at $46.40 on Friday. The firm has a market capitalization of $13.33 billion, a PE ratio of 13.18, a P/E/G ratio of 0.47 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $51.38 and a two-hundred day moving average price of $53.79. Magna International has a twelve month low of $45.75 and a twelve month high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. Equities analysts forecast that Magna International will post 6.13 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, May 16th. Magna International’s payout ratio is presently 53.98%.

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.