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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $49.65.

A number of equities research analysts have recently weighed in on MGA shares. Raymond James lowered their price objective on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price target on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wolfe Research reiterated an “underperform” rating on shares of Magna International in a report on Thursday, September 5th. The Goldman Sachs Group dropped their target price on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Citigroup reduced their price target on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th.

Magna International Stock Performance

Magna International stock opened at $39.47 on Friday. The firm has a market capitalization of $11.34 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 0.67 and a beta of 1.59. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The firm’s 50 day simple moving average is $41.39 and its 200 day simple moving average is $43.26. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the firm posted $1.50 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. As a group, analysts expect that Magna International will post 5.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Magna International by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after purchasing an additional 319 shares in the last quarter. Grove Bank & Trust increased its position in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after acquiring an additional 513 shares during the period. LRI Investments LLC purchased a new stake in shares of Magna International in the first quarter worth $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Magna International during the 2nd quarter valued at $28,000. Institutional investors 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.