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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $63.86.

MGA has been the topic of several recent research reports. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a report on Monday, February 26th. CIBC dropped their price objective on shares of Magna International from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. TD Securities dropped their price objective on shares of Magna International from $73.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, February 12th. Raymond James lowered their price target on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. Finally, BMO Capital Markets lowered their price target on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in shares of Magna International in the third quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares during the period. Resources Management Corp CT ADV boosted its stake in shares of Magna International by 323.5% in the second quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock valued at $48,000 after purchasing an additional 647 shares during the period. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares during the period. Finally, Barometer Capital Management Inc. purchased a new position in Magna International in the fourth quarter worth approximately $106,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Trading Down 2.8 %

Shares of Magna International stock opened at $49.84 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. Magna International has a 12-month low of $46.71 and a 12-month high of $65.27. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.50 and a beta of 1.69. The firm’s 50 day simple moving average is $54.11 and its two-hundred day simple moving average is $54.43.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. Analysts predict that Magna International will post 6.11 EPS for the current year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 22nd. Magna International’s dividend payout ratio is 45.02%.

About Magna International

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.