Brokerages Set Magna International Inc. (NYSE:MGA) Target Price at $54.24

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $53.82.

Several equities analysts recently weighed in on MGA shares. The Goldman Sachs Group cut their price objective on Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Evercore ISI reduced their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Morgan Stanley cut their target price on shares of Magna International from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Raymond James decreased their price target 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, JPMorgan Chase & Co. dropped their price objective on shares of Magna International from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd.

Institutional Trading of Magna International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Magna International in the 2nd quarter valued at $28,000. Sunbelt Securities Inc. increased its position in Magna International by 2,179.2% in the first 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. LRI Investments LLC bought a new stake in Magna International during the 1st quarter worth about $36,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Magna International during the 1st quarter valued at about $49,000. Finally, S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Trading Down 0.1 %

Shares of MGA stock opened at $43.72 on Wednesday. Magna International has a 12 month low of $40.83 and a 12 month high of $65.27. The company has a market cap of $12.56 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.59 and a beta of 1.59. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $43.57 and its two-hundred day moving average is $49.39.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results 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 firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. Equities analysts predict that Magna International will post 5.71 EPS for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.475 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.35%. Magna International’s payout ratio is 53.98%.

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.