Analysts Set Magna International Inc. (NYSE:MGA) PT at $49.88

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average rating of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $49.88.

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Scotiabank raised their target price on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday, November 4th. CIBC boosted their price target on shares of Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Morgan Stanley lowered shares of Magna International from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $55.00 to $43.00 in a research note on Wednesday, September 25th. Finally, StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently bought and sold shares of MGA. Toronto Dominion Bank boosted its stake in shares of Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after acquiring an additional 18,704 shares in the last quarter. Quantbot Technologies LP boosted its position in Magna International by 12.5% during the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after purchasing an additional 16,639 shares during the period. Geode Capital Management LLC boosted its position in 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 purchasing an additional 32,000 shares during the period. BNP Paribas Financial Markets grew its holdings in Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after purchasing an additional 84,322 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Magna International by 135.5% in the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock valued at $6,818,000 after purchasing an additional 93,637 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Performance

Shares of MGA opened at $40.81 on Wednesday. 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 firm’s 50 day moving average is $42.98 and its 200-day moving average is $42.22. Magna International has a 12-month low of $38.01 and a 12-month high of $59.37. The stock has a market capitalization of $11.54 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.63 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results 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). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that Magna International will post 5.22 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, November 15th. Magna International’s payout ratio is presently 50.80%.

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.