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

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $49.76.

Several analysts have recently commented on the stock. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. TD Securities cut their price target on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BMO Capital Markets decreased their price objective on Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. CIBC lowered their target price on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Raymond James reduced their price target on Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Magna International by 202.7% in the first quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company’s stock worth $1,433,000 after buying an additional 17,611 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Magna International by 5.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock worth $8,573,000 after purchasing an additional 8,680 shares in the last quarter. Tobam boosted its holdings in shares of Magna International by 208.1% during the 1st quarter. Tobam now owns 4,079 shares of the company’s stock worth $222,000 after purchasing an additional 2,755 shares during the last quarter. Lorne Steinberg Wealth Management Inc. grew its position in shares of Magna International by 3.2% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 73,662 shares of the company’s stock valued at $4,014,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Magna International in the first quarter valued at approximately $1,009,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Performance

Shares of MGA stock opened at $43.16 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The business has a fifty day moving average of $41.37 and a 200 day moving average of $43.02. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.68 and a beta of 1.59. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, research analysts expect that Magna International will post 5.3 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio is currently 50.80%.

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.