Brokerages Set Magna International Inc. (NYSE:MGA) Target Price at $49.65

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $49.65.

A number of equities analysts have recently issued reports on MGA shares. JPMorgan Chase & Co. cut their price target on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Morgan Stanley cut shares of Magna International from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. Raymond James decreased their price target on Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. CIBC dropped their price objective on Magna International from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their price objective on Magna International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th.

Magna International Price Performance

Shares of MGA opened at $41.97 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $41.34 and its two-hundred day moving average is $43.14. Magna International has a twelve month low of $38.01 and a twelve month high of $60.32. The firm has a market capitalization of $12.06 billion, a PE ratio of 12.24, a P/E/G ratio of 0.63 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The business had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. Research analysts anticipate that Magna International will post 5.4 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.475 per share. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.53%. Magna International’s dividend payout ratio (DPR) is currently 55.39%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in shares of Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after acquiring an additional 319 shares during the last quarter. Grove Bank & Trust increased its position in Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the period. LRI Investments LLC acquired a new position in shares of Magna International in the 1st quarter valued at $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International during the 2nd quarter valued at $28,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.