Magna International Inc. (NYSE:MGA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received an average recommendation of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat Ratings reports. One 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 12 month price target among brokerages that have covered the stock in the last year is $49.76.

Several analysts have recently commented on MGA shares. Scotiabank raised their price objective on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Monday, November 4th. Royal Bank of Canada decreased their price target on Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Barclays dropped their price objective on Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company lifted their target price on Magna International from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, CIBC lowered their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th.

Institutional Trading of Magna International

Hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Magna International during the 2nd quarter valued at approximately $28,000. Kennebec Savings Bank purchased a new position in shares of Magna International during the third quarter valued at approximately $32,000. Grove Bank & Trust grew its stake in shares of Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after buying an additional 343 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Magna International in the first quarter worth approximately $36,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Magna International by 84.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Stock Performance

Shares of MGA opened at $46.46 on Tuesday. Magna International has a 52 week low of $38.01 and a 52 week high of $60.32. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.83 and a beta of 1.59. The business has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $42.61.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that Magna International will post 5.22 EPS for the current year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.09%. Magna International’s payout ratio is currently 50.80%.

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.