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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the firm, MarketBeat 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 brokerages that have updated their coverage on the stock in the last year is $47.03.

MGA has been the subject of a number of recent analyst reports. UBS Group reduced 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, February 18th. Wells Fargo & Company reduced their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. Raymond James lowered their target price on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 18th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and cut their price target for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. Finally, Barclays decreased their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th.

Magna International Stock Down 2.8 %

MGA opened at $34.00 on Monday. The company has a 50 day moving average of $38.03 and a 200 day moving average of $40.88. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Magna International has a 12 month low of $33.30 and a 12 month high of $54.36. The company has a market cap of $9.58 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The firm’s quarterly 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 was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.485 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a yield of 5.71%. Magna International’s payout ratio is presently 55.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Magna International by 117,113.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after purchasing an additional 84,322 shares in the last quarter. ARGA Investment Management LP purchased a new position in Magna International in the 3rd quarter worth $40,710,000. Public Employees Retirement System of Ohio bought a new stake in Magna International in the third quarter worth $1,040,000. Geode Capital Management LLC boosted its position in Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after buying an additional 32,000 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after buying an additional 18,704 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

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.