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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.86.

A number of equities analysts recently weighed in on the company. CIBC dropped their price target on Magna International from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Royal Bank of Canada lowered their target price on Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. TD Securities lowered their target price on Magna International from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Monday, February 12th. Barclays lowered their target price on Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group cut Magna International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $73.00 to $58.00 in a research note on Wednesday, January 3rd.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC lifted its holdings in shares of Magna International by 58.2% during the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after buying an additional 3,609,429 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Magna International by 8.7% in the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after purchasing an additional 157,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Magna International by 0.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after purchasing an additional 2,727 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Magna International by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 905,672 shares of the company’s stock worth $48,821,000 after purchasing an additional 47,858 shares during the last quarter. Finally, QV Investors Inc. lifted its holdings in Magna International by 20.7% in the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after purchasing an additional 113,332 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Trading Down 2.8 %

Shares of MGA opened at $49.84 on Monday. The business’s 50-day moving average price is $54.11 and its 200 day moving average price is $54.43. The stock has a market capitalization of $14.32 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.50 and a beta of 1.69. Magna International has a 1-year low of $46.71 and a 1-year high of $65.27. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. Analysts expect that Magna International will post 6.11 earnings per share 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 dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.81%. This is a positive change from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s payout ratio is currently 45.02%.

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.