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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $51.06.

A number of research analysts have recently commented on MGA shares. Royal Bank of Canada cut their price target on Magna International from $57.00 to $47.00 and set a “sector perform” rating for the company in a report on Tuesday, August 13th. Wolfe Research reiterated an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. UBS Group decreased their price target on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley cut their price objective on shares of Magna International from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, Evercore decreased their target price on 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.

Magna International Stock Performance

Shares of MGA opened at $39.28 on Thursday. The company has a market capitalization of $11.29 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. Magna International has a one year low of $38.01 and a one year high of $60.32. The company’s fifty day moving average price is $41.94 and its 200 day moving average price is $46.24.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts expect that Magna International will post 5.58 earnings per share for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.90 annualized dividend and a yield of 4.84%. Magna International’s dividend payout ratio is currently 53.98%.

Hedge Funds Weigh In On Magna International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in shares of Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares in the last quarter. LRI Investments LLC acquired a new position in Magna International in the first quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Magna International during the second quarter worth $28,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International in the first quarter valued at $49,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Magna International by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after buying an additional 319 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.