Magna International (NYSE:MGA) Lifted 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 sent to investors on Thursday.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group downgraded Magna International from a buy rating to a neutral rating and dropped their price objective for the company from $73.00 to $58.00 in a research note on Wednesday, January 3rd. BMO Capital Markets decreased their price objective on Magna International from $67.00 to $65.00 and set an outperform rating for the company in a report on Monday, February 12th. Wells Fargo & Company dropped their price objective on shares of Magna International from $60.00 to $54.00 and set an equal weight rating on the stock in a report on Monday, February 12th. Barclays reduced their target price on shares of Magna International from $63.00 to $62.00 and set an equal weight rating for the company in a research note on Thursday, April 11th. Finally, Evercore cut shares of Magna International from an outperform rating to an in-line rating and dropped their price target for the company from $75.00 to $62.00 in a research note on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $62.50.

Magna International Price Performance

Magna International stock opened at $46.70 on Thursday. The company’s 50 day moving average price is $52.00 and its two-hundred day moving average price is $53.93. The stock has a market cap of $13.42 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.47 and a beta of 1.69. Magna International has a 52 week low of $46.11 and a 52 week high of $65.27. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, equities analysts predict that Magna International will post 6.13 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Magna International’s payout ratio is 53.98%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently made changes to their positions in MGA. Sunbelt Securities Inc. raised its position in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in Magna International in the 1st quarter worth $49,000. S.A. Mason LLC raised its position in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after purchasing an additional 229 shares during the period. Finally, Parallel Advisors LLC raised its position in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the period. Hedge funds and other institutional investors 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.