Magna International Inc. (NYSE:MGA) Receives $44.32 Consensus PT from Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned an average rating of “Hold” from the twenty ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $44.32.

A number of research analysts have commented on the company. Barclays lowered their target price on Magna International from $47.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 15th. Evercore ISI dropped their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their target price 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. Morgan Stanley dropped their price target on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, Bank of America lowered shares of Magna International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th.

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the business. ARGA Investment Management LP grew its holdings in Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after acquiring an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares in the last quarter. Geode Capital Management LLC boosted its position in Magna International by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after buying an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. raised its position in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after acquiring an additional 172,754 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Magna International by 19.9% during the first quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company’s stock valued at $8,560,000 after acquiring an additional 41,811 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Performance

Shares of Magna International stock opened at $34.07 on Friday. Magna International has a 12 month low of $30.39 and a 12 month high of $49.78. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a market cap of $9.60 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. The business has a fifty day simple moving average of $35.08 and a 200-day simple moving average of $39.59.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.69%. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is 55.27%.

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.