Magna International Given Consensus Recommendation of “Buy” by Analysts (NYSE:MGA)
Shares of Magna International (NYSE:MGA) have earned an average recommendation of “Buy” from the fifteen brokerages that are currently covering the company, Analyst Ratings Network reports. Five research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $113.29.
Shares of Magna International (NYSE:MGA) traded down 0.31% on Friday, hitting $113.156. 29,937 shares of the company’s stock traded hands. Magna International has a 52-week low of $75.45 and a 52-week high of $114.40. The stock’s 50-day moving average is $110.3 and its 200-day moving average is $100.9. The company has a market cap of $24.023 billion and a price-to-earnings ratio of 15.17.
Magna International (NYSE:MGA) last announced its earnings results on Friday, August 8th. The company reported $2.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.22 by $0.10. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Magna International will post $8.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, August 27th.
A number of research firms have recently commented on MGA. Analysts at Credit Suisse initiated coverage on shares of Magna International in a research note on Wednesday, August 13th. They set an “outperform” rating and a $128.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Magna International in a research note on Tuesday, August 12th. They now have a $120.00 price target on the stock, up previously from $107.00. Finally, analysts at KeyCorp reiterated a “buy” rating on shares of Magna International in a research note on Monday, August 11th. They now have a $130.00 price target on the stock, up previously from $115.00.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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