Magna International (NYSE:MGA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other research firms have also recently weighed in on MGA. CIBC dropped their price target on Magna International from $61.00 to $59.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Royal Bank of Canada dropped their price target on Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a research note on Monday, February 12th. UBS Group increased their price target on Magna International from $59.00 to $60.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. Scotiabank dropped their price target on Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research note on Monday, February 12th. Finally, The Goldman Sachs Group cut Magna International from a buy rating to a neutral rating and dropped their price target for the company from $73.00 to $58.00 in a research note on Wednesday, January 3rd. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $62.50.

Magna International Trading Up 0.9 %

Shares of Magna International stock opened at $49.13 on Wednesday. Magna International has a 12-month low of $46.71 and a 12-month high of $65.27. The stock has a market cap of $14.11 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.49 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $52.77 and its 200-day moving average is $54.14.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data 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). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The company had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts predict that Magna International will post 6.13 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Thursday, February 22nd. Magna International’s dividend payout ratio is 45.02%.

Institutional Trading of Magna International

Several large investors have recently modified their holdings of the stock. Pzena Investment Management LLC grew its holdings in shares of Magna International by 58.2% during the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock worth $525,968,000 after purchasing an additional 3,609,429 shares in the last quarter. Toronto Dominion Bank boosted its stake in Magna International by 8.7% in the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after buying an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Magna International by 0.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after buying an additional 2,727 shares in the last quarter. QV Investors Inc. boosted its stake in Magna International by 1.0% in the first quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after buying an additional 6,895 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its stake in Magna International by 39.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after buying an additional 53,695 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.