Magna International (NYSE:MGA) Price Target Raised to $61.00 at UBS Group

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by UBS Group from $49.00 to $61.00 in a research report report published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages also recently commented on MGA. CIBC lifted their target price on shares of Magna International from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. JPMorgan Chase & Co. raised their price target on Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research report on Wednesday, October 8th. BMO Capital Markets raised their target price on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Wall Street Zen lowered Magna International from a “strong-buy” rating to a “buy” rating in a report on Sunday. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.07.

Magna International Stock Performance

Shares of NYSE MGA opened at $56.50 on Wednesday. The business’s 50-day simple moving average is $51.69 and its 200-day simple moving average is $47.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. Magna International has a 52 week low of $30.39 and a 52 week high of $57.55. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 15.44 and a beta of 1.50.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.09. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The firm had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. During the same period in the previous year, the company earned $1.28 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.485 per share. The ex-dividend date was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.4%. Magna International’s payout ratio is currently 53.01%.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently bought and sold shares of MGA. ARGA Investment Management LP increased its holdings in Magna International by 33.2% in the 3rd quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock valued at $196,557,000 after buying an additional 1,033,747 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Magna International in the third quarter valued at about $33,593,000. Geode Capital Management LLC increased its stake in Magna International by 20.2% in the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after acquiring an additional 338,470 shares during the period. AGF Management Ltd. acquired a new position in Magna International in the third quarter worth about $14,191,000. Finally, Achmea Investment Management B.V. bought a new position in Magna International during the third quarter worth about $8,606,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.