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

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research 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 price objective among brokers that have issued a report on the stock in the last year is $47.03.

Several equities research analysts have recently weighed in on the stock. Bank of America downgraded shares of Magna International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $52.00 to $48.00 in a research note on Tuesday, March 4th. Raymond James reduced their price objective on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Finally, Evercore ISI dropped their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a report on Tuesday, February 18th.

Magna International Stock Performance

NYSE:MGA opened at $38.26 on Thursday. The firm has a market capitalization of $10.79 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The business’s fifty day moving average price is $39.37 and its 200 day moving average price is $41.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. Magna International has a 12 month low of $33.30 and a 12 month high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The firm had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. Magna International’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. On average, sell-side analysts anticipate that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.07%. This is a boost from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. Magna International’s dividend payout ratio (DPR) is 55.27%.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the company. 1620 Investment Advisors Inc. boosted its holdings in shares of Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares during the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.