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

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average rating of “Hold” from the eighteen analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $49.3333.

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. TD Securities raised their target price on shares of Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. CIBC boosted their price target on shares of Magna International from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Evercore ISI increased their price objective on shares of Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a report on Monday, November 24th. Finally, Wells Fargo & Company raised their price objective on shares of Magna International from $45.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, November 3rd.

Magna International Price Performance

Shares of NYSE:MGA opened at $49.03 on Friday. The firm’s 50 day moving average is $47.46 and its two-hundred day moving average is $43.72. The firm has a market capitalization of $13.82 billion, a P/E ratio of 13.40 and a beta of 1.53. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. Magna International has a 52 week low of $30.39 and a 52 week high of $50.77.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The business had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. During the same period in the prior year, the company posted $1.28 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.485 per share. The ex-dividend date was Friday, November 14th. This represents a $1.94 annualized dividend and a dividend yield of 4.0%. Magna International’s dividend payout ratio (DPR) is 53.01%.

Institutional Trading of Magna International

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP raised its position in Magna International by 3,849.3% in the first quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock worth $5,639,000 after acquiring an additional 161,707 shares in the last quarter. ARGA Investment Management LP boosted its position in shares of Magna International by 3.9% during the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock valued at $120,366,000 after purchasing an additional 116,529 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Magna International in the 1st quarter worth approximately $305,000. Western Wealth Management LLC bought a new stake in shares of Magna International in the 2nd quarter worth approximately $249,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Magna International during the second quarter valued at approximately $4,618,000. 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.