Magna International Inc. (NYSE:MGA) Receives Consensus Recommendation of “Hold” from Brokerages

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus rating of “Hold” from the eighteen brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $52.4667.

A number of research firms have recently issued reports on MGA. Barclays raised their price target on Magna International from $52.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday. Scotiabank upped their price target on shares of Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. TD Securities raised their price objective on shares of Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. BMO Capital Markets upped their target price on shares of Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, UBS Group lifted their price target on shares of Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th.

Magna International Price Performance

Shares of NYSE:MGA opened at $53.21 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 14.54 and a beta of 1.50. The business has a 50-day simple moving average of $52.35 and a two-hundred day simple moving average of $47.76. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $57.55.

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

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.485 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. Magna International’s dividend payout ratio is presently 53.01%.

Institutional Investors Weigh In On Magna International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of Magna International in the second quarter worth approximately $27,000. Community Bank N.A. bought a new position in Magna International in the 3rd quarter worth $29,000. Farther Finance Advisors LLC increased its stake in Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after buying an additional 1,136 shares in the last quarter. Danske Bank A S bought a new stake in Magna International during the third quarter valued at about $112,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Magna International in the fourth quarter valued at about $200,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

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.