Magna International Inc. (NYSE:MGA) Receives $51.06 Consensus Price Target from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received an average rating of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $51.06.

Several research analysts recently weighed in on MGA shares. Evercore ISI dropped their target price on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, July 15th. CIBC cut their target price on Magna International from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. StockNews.com downgraded Magna International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. UBS Group dropped their price target on Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Evercore reduced their price objective on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th.

Institutional Trading of Magna International

Several hedge funds and other institutional investors have recently bought and sold shares of MGA. Sunbelt Securities Inc. raised its position in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Magna International during the first quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International during the 2nd quarter valued at $28,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International in the 1st quarter worth $49,000. Finally, EverSource Wealth Advisors LLC grew its stake in Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after buying an additional 319 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

NYSE MGA opened at $40.67 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76. The business’s fifty day moving average price is $42.24 and its 200-day moving average price is $47.75. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.59 and a beta of 1.59. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.11). The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. Magna International’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 EPS. On average, equities analysts predict that Magna International will post 5.68 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Friday, August 16th. Magna International’s dividend payout ratio (DPR) 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.