Magna International Inc. (NYSE:MGA) Receives $59.81 Average Price Target from Brokerages

Magna International Inc. (NYSE:MGA) (TSE:MG) has received an average rating of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $59.81.

MGA has been the subject of a number of research analyst reports. StockNews.com cut Magna International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Evercore reduced their price objective on Magna International from $62.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, May 6th. The Goldman Sachs Group lowered their target price on Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Barclays cut their price target on Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Finally, BNP Paribas raised shares of Magna International from a “neutral” rating to an “outperform” rating in a research note on Monday.

Magna International Stock Performance

Shares of NYSE MGA opened at $41.53 on Friday. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.54 and a beta of 1.62. Magna International has a one year low of $40.83 and a one year high of $65.27. The business has a fifty day simple moving average of $45.25 and a 200 day simple moving average of $51.47. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

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

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.58%. Magna International’s dividend payout ratio (DPR) is 53.98%.

Hedge Funds Weigh In On Magna International

Hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. boosted its stake in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares during the last quarter. LRI Investments LLC bought a new position in Magna International in the first quarter valued at approximately $36,000. Massmutual Trust Co. FSB ADV raised its stake in Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after buying an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International in the first quarter valued at approximately $49,000. Finally, S.A. Mason LLC boosted its stake 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 acquiring an additional 229 shares during the period. 67.49% of the stock is owned by institutional investors.

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.