Magna International Inc. (NYSE:MGA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given an average rating of “Hold” by the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $41.56.

A number of equities research analysts recently weighed in on MGA shares. Royal Bank of Canada lowered their price objective on shares of Magna International from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group reduced their price target on shares of Magna International from $38.00 to $31.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. CIBC upped their price target on shares of Magna International from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Evercore ISI dropped their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. Finally, UBS Group dropped their target price on shares of Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th.

Magna International Stock Performance

Magna International stock opened at $37.33 on Friday. The firm’s fifty day moving average price is $34.94 and its 200 day moving average price is $37.97. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50. Magna International has a 12-month low of $30.39 and a 12-month high of $47.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The company had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. Magna International’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. On average, research analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.94 annualized dividend and a dividend yield of 5.20%. Magna International’s dividend payout ratio (DPR) is 48.50%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Entropy Technologies LP bought a new stake in shares of Magna International during the 4th quarter worth $256,000. Bank of New York Mellon Corp boosted its holdings in Magna International by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company’s stock valued at $10,000,000 after purchasing an additional 14,441 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after acquiring an additional 29,567 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Magna International during the 4th quarter worth about $213,000. Finally, Lindbrook Capital LLC increased its position in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.