Magna International Inc. (NYSE:MGA) Receives Consensus Recommendation of “Hold” from Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average recommendation of “Hold” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $59.81.

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Evercore dropped their price target on Magna International from $62.00 to $60.00 and set an “in-line” rating on the stock in a research report on Monday, May 6th. CIBC reduced their price objective on Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Raymond James dropped their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, May 6th. Finally, TD Securities reduced their price target on shares of Magna International from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, May 6th.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the stock. Sunbelt Securities Inc. boosted its stake in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after buying an additional 523 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Magna International in the 1st quarter valued at $36,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International during the 1st quarter worth about $49,000. Finally, S.A. Mason LLC increased its position in shares of Magna International by 24.4% during 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 in the last quarter. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Performance

Shares of NYSE MGA opened at $42.53 on Friday. The business’s 50-day simple moving average is $44.97 and its 200-day simple moving average is $51.31. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.09. Magna International has a 52 week low of $40.83 and a 52 week high of $65.27. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.54 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same quarter last year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Magna International will post 5.83 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders 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 yield of 4.47%. The ex-dividend date of this dividend was Thursday, May 16th. Magna International’s dividend payout ratio is 53.98%.

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.