Magna International (NYSE:MGA) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Several other equities analysts have also commented on MGA. UBS Group upped their price objective on shares of Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. Barclays dropped their price objective on shares of Magna International from $63.00 to $62.00 and set an equal weight rating on the stock in a research report on Thursday, April 11th. Scotiabank dropped their price objective on shares of Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Raymond James dropped their target price on shares of Magna International from $62.00 to $60.00 and set a market perform rating on the stock in a research report on Monday, February 12th. Finally, TD Securities dropped their target price on shares of Magna International from $69.00 to $63.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Magna International has an average rating of Hold and an average target price of $62.50.

Magna International Stock Up 0.9 %

MGA stock opened at $49.13 on Wednesday. The stock has a market capitalization of $14.11 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.49 and a beta of 1.69. The firm has a 50-day simple moving average of $52.77 and a 200-day simple moving average of $54.14. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. Magna International has a 52 week low of $46.71 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The business had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Magna International will post 6.13 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.475 dividend. This is a boost from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 22nd. This represents a $1.90 annualized dividend and a dividend yield of 3.87%. Magna International’s dividend payout ratio (DPR) is 45.02%.

Institutional Trading of Magna International

Several hedge funds and other institutional investors have recently made changes to their positions in MGA. Sunbelt Securities Inc. increased its holdings in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings 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 purchasing an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Magna International during the first quarter valued at approximately $49,000. S.A. Mason LLC lifted its position in Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after buying an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after buying an additional 879 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.