Brokerages Set Magna International Inc. (NYSE:MGA) PT at $60.00

Magna International Inc. (NYSE:MGAGet Free Report) (TSE:MG) has earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to 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 research firms have commented on MGA. Morgan Stanley lowered their price target on Magna International from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company reduced their target price on Magna International from $52.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. StockNews.com downgraded Magna International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. The Goldman Sachs Group reduced their target price on Magna International from $56.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Barclays reduced their target price on Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th.

Read Our Latest Stock Report on Magna International

Magna International Trading Down 0.7 %

NYSE MGA opened at $44.16 on Tuesday. Magna International has a 1-year low of $43.88 and a 1-year high of $65.27. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $48.15 and a 200-day moving average of $53.00. The firm has a market cap of $12.69 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last released 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 the consensus estimate of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. As a group, sell-side analysts forecast that Magna International will post 5.81 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.90 annualized dividend and a yield of 4.30%. Magna International’s dividend payout ratio is 53.98%.

Institutional Trading of Magna International

Institutional investors have recently added to or reduced their stakes in the business. Lorne Steinberg Wealth Management Inc. boosted its stake in Magna International by 3.9% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after purchasing an additional 2,646 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Magna International by 243.3% during the 3rd quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock valued at $2,724,000 after buying an additional 36,005 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after buying an additional 157,808 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after buying an additional 2,727 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of Magna International during the 4th quarter valued at $237,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Company Profile

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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.

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Analyst Recommendations for Magna International (NYSE:MGA)

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