Magna International Given Consensus Recommendation of “Buy” by Analysts (NYSE:MGA)
Magna International (NYSE:MGA) has been given an average recommendation of “Buy” by the fifteen analysts that are presently covering the stock, AnalystRatingsNetwork.com reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $113.29.
Shares of Magna International (NYSE:MGA) opened at 113.93 on Friday. Magna International has a one year low of $75.45 and a one year high of $114.40. The stock’s 50-day moving average is $110.5 and its 200-day moving average is $101.6. The company has a market cap of $24.188 billion and a price-to-earnings ratio of 15.15.
Magna International (NYSE:MGA) last posted its quarterly earnings results on Friday, August 8th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter 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 declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, August 27th.
A number of analysts have recently weighed in on MGA shares. 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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