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 analysts that are presently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $60.00.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price 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. JPMorgan Chase & Co. upped their target price on shares of Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. UBS Group lifted their price target on Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. CIBC dropped their price objective on Magna International from $59.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Barclays reduced their target price on Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday.

Magna International Trading Down 1.4 %

Shares of NYSE:MGA opened at $46.40 on Friday. The stock has a market capitalization of $13.33 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. The company’s 50-day moving average price is $51.38 and its two-hundred day moving average price is $53.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a one year low of $45.75 and a one year high of $65.27.

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

Magna International Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. boosted its stake in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after buying an additional 523 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Magna International during the 1st quarter valued at $49,000. S.A. Mason LLC grew its holdings in shares of 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 in 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 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.