Magna International Inc. (MGA) Given Neutral Rating at Goldman Sachs Group Inc.
Magna International Inc. (NYSE:MGA)‘s stock had its “neutral” rating reissued by research analysts at Goldman Sachs Group Inc. in a note issued to investors on Saturday. They currently have a $43.00 target price on the stock, down from their previous target price of $44.00. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 1.82% from the stock’s current price.
Several other research firms have also weighed in on MGA. Macquarie reaffirmed an “outperform” rating on shares of Magna International in a research note on Friday, September 30th. TD Securities reaffirmed a “buy” rating and issued a $47.00 price objective (up from $46.00) on shares of Magna International in a research note on Wednesday, August 10th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $55.00 price objective (up from $52.00) on shares of Magna International in a research note on Wednesday, August 10th. Zacks Investment Research raised Magna International from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, August 30th. Finally, Royal Bank Of Canada boosted their price target on Magna International from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Magna International presently has an average rating of “Buy” and a consensus price target of $50.32.
Magna International (NYSE:MGA) opened at 42.23 on Friday. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 8.07 and a beta of 1.60. The firm has a 50-day moving average of $40.99 and a 200 day moving average of $40.07. Magna International has a 52 week low of $30.41 and a 52 week high of $53.89.
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Magna International (NYSE:MGA) last released its quarterly earnings data on Friday, August 5th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.24 billion. Magna International had a return on equity of 21.14% and a net margin of 6.12%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. On average, analysts anticipate that Magna International will post $5.22 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Magna International’s dividend payout ratio (DPR) is 19.16%.
Several large investors have recently modified their holdings of the stock. Prentiss Smith & Co. Inc. increased its stake in shares of Magna International by 589.7% in the second quarter. Prentiss Smith & Co. Inc. now owns 174,921 shares of the company’s stock worth $6,134,000 after buying an additional 149,559 shares during the period. Lingohr & Partner Asset Management GmbH increased its stake in shares of Magna International by 7.8% in the second quarter. Lingohr & Partner Asset Management GmbH now owns 79,090 shares of the company’s stock worth $2,774,000 after buying an additional 5,700 shares during the period. James Investment Research Inc. increased its stake in shares of Magna International by 5.9% in the second quarter. James Investment Research Inc. now owns 1,523,704 shares of the company’s stock worth $53,436,000 after buying an additional 84,914 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in shares of Magna International by 7.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 7,850 shares of the company’s stock worth $275,000 after buying an additional 550 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Magna International by 145.2% in the second quarter. Capstone Asset Management Co. now owns 152,411 shares of the company’s stock worth $5,345,000 after buying an additional 90,244 shares during the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.
About Magna International
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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