Brokerages Set Magna International Inc. (NYSE:MGA) PT at $47.03

Magna International Inc. (NYSE:MGA) (TSE:MG) has been given a consensus recommendation of “Hold” by the nineteen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $47.03.

A number of analysts have weighed in on MGA shares. Evercore ISI reduced their target price on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research note on Tuesday, February 18th. TD Securities reduced their target price on Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. UBS Group reduced their target price on Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada reduced their target price on Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th.

Institutional Investors Weigh In On Magna International

A number of large investors have recently bought and sold shares of the company. Avior Wealth Management LLC boosted its position in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Magna International in the 3rd quarter worth approximately $32,000. LRI Investments LLC boosted its position in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after purchasing an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Magna International in the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC boosted its position in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Up 1.7 %

Shares of MGA opened at $38.06 on Thursday. The company has a market cap of $10.74 billion, a PE ratio of 10.84, a P/E/G ratio of 0.63 and a beta of 1.65. The business has a fifty day moving average of $39.37 and a 200 day moving average of $41.37. Magna International has a 52-week low of $33.30 and a 52-week high of $56.12. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts expect that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.485 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a yield of 5.10%. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is currently 55.27%.

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.