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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $49.88.

MGA has been the subject of a number of analyst reports. Royal Bank of Canada cut their price target on Magna International from $42.00 to $41.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Scotiabank lifted their target price on Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $55.00 to $43.00 in a report on Wednesday, September 25th. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, TD Securities lowered their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Magna International Price Performance

NYSE MGA opened at $40.47 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a market cap of $11.45 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.62. Magna International has a 52 week low of $38.01 and a 52 week high of $59.37. The firm’s 50-day simple moving average is $43.31 and its two-hundred day simple moving average is $42.28.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Research analysts predict that Magna International will post 5.22 earnings per share for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.69%. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Trading of Magna International

A number of hedge funds have recently bought and sold shares of MGA. Toronto Dominion Bank lifted its holdings in shares of Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after acquiring an additional 18,704 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Magna International by 12.5% during the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock valued at $6,128,000 after purchasing an additional 16,639 shares during the last quarter. Geode Capital Management LLC lifted its stake in Magna International by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after purchasing an additional 32,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after buying an additional 84,322 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Magna International by 135.5% during the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock valued at $6,818,000 after buying an additional 93,637 shares during the last quarter. 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.