Brokerages Set Magna International Inc. (NYSE:MGA) PT at $49.65

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given a consensus recommendation of “Hold” by the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $49.65.

A number of equities analysts have recently commented on MGA shares. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Morgan Stanley lowered Magna International from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $55.00 to $43.00 in a report on Wednesday, September 25th. Scotiabank boosted their target price on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Finally, The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th.

Magna International Trading Up 0.9 %

Shares of MGA stock opened at $42.42 on Friday. The business’s 50 day moving average is $43.47 and its two-hundred day moving average is $42.39. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The company has a market cap of $12.09 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Equities analysts predict that Magna International will post 5.22 EPS for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.48%. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in MGA. JARISLOWSKY FRASER Ltd increased its position in shares of Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock worth $299,543,000 after purchasing an additional 395,745 shares in the last quarter. Toronto Dominion Bank grew its stake in Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after buying an additional 18,704 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after buying an additional 32,000 shares in the last quarter. ARGA Investment Management LP bought a new position in shares of Magna International in the third quarter valued at approximately $40,710,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after acquiring an additional 21,532 shares in the last quarter. Institutional investors and hedge funds 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.