Magna International (NYSE:MGA) Raised to Outperform at BNP Paribas

BNP Paribas upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a neutral rating to an outperform rating in a research report sent to investors on Monday, MarketBeat reports.

A number of other equities analysts have also commented on the company. CIBC dropped their price target on Magna International from $59.00 to $54.00 and set a neutral rating for the company in a research note on Monday, May 6th. Wells Fargo & Company cut their target price on shares of Magna International from $49.00 to $46.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group decreased their price target on shares of Magna International from $56.00 to $48.00 and set a neutral rating on the stock in a research note on Monday, May 6th. Raymond James lowered their price objective on shares of Magna International from $60.00 to $57.00 and set a market perform rating for the company in a research report on Monday, May 6th. Finally, Morgan Stanley reduced their target price on shares of Magna International from $65.00 to $60.00 and set an overweight rating on the stock in a report on Friday, May 10th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Magna International has a consensus rating of Hold and a consensus price target of $59.81.

Magna International Trading Up 0.2 %

MGA stock opened at $42.53 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76. Magna International has a 1-year low of $40.83 and a 1-year high of $65.27. The business has a 50 day simple moving average of $44.85 and a two-hundred day simple moving average of $51.24. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.54 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.35% and a return on equity of 12.96%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share. Research analysts anticipate that Magna International will post 5.83 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Thursday, May 16th. Magna International’s dividend payout ratio is currently 53.98%.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Magna International by 3.9% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after purchasing an additional 2,646 shares during the period. Natixis Advisors L.P. lifted its holdings in Magna International by 243.3% during the 3rd quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock valued at $2,724,000 after buying an additional 36,005 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Magna International by 0.3% during the 4th 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. Prime Capital Investment Advisors LLC purchased a new stake in Magna International in the 4th quarter valued at about $237,000. Finally, Azimuth Capital Investment Management LLC increased its position in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

About Magna International

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.