Shares of Magna International Inc. (TSE:MG – Get Rating) (NYSE:MGA) have earned an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$90.91.
Several brokerages have commented on MG. Credit Suisse Group reissued an “overweight” rating and issued a C$78.00 price objective on shares of Magna International in a report on Monday, May 2nd. Raymond James raised Magna International to a “hold” rating and set a C$68.00 price target on the stock in a research note on Wednesday, March 16th. BMO Capital Markets lowered Magna International to a “hold” rating and set a C$63.00 price target on the stock. in a research note on Tuesday, March 8th. Benchmark reaffirmed a “buy” rating and issued a C$92.00 price target on shares of Magna International in a research note on Monday, February 14th. Finally, Wells Fargo & Company lowered their price target on Magna International to C$72.00 and set an “overweight” rating on the stock in a research note on Monday, May 2nd.
MG stock traded up C$0.20 during trading on Tuesday, hitting C$75.15. 681,053 shares of the company traded hands, compared to its average volume of 1,041,930. The company has a debt-to-equity ratio of 43.80, a current ratio of 1.30 and a quick ratio of 0.86. Magna International has a 1 year low of C$70.16 and a 1 year high of C$126.00. The stock’s 50-day simple moving average is C$78.34 and its 200 day simple moving average is C$93.96. The company has a market cap of C$22.17 billion and a PE ratio of 14.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 27th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, May 12th. Magna International’s dividend payout ratio is currently 32.64%.
In related news, Director Mary Lou Maher acquired 1,000 shares of the firm’s stock in a transaction dated Monday, February 14th. The stock was acquired at an average price of C$97.40 per share, for a total transaction of C$97,400.00. Following the purchase, the director now owns 1,950 shares of the company’s stock, valued at approximately C$189,930.
Magna International Company Profile (Get Rating)
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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