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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given a consensus recommendation of “Hold” by the nineteen research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $49.65.

A number of brokerages have weighed in on MGA. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. TD Securities cut their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, September 30th. UBS Group lifted their price target on shares of Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Royal Bank of Canada dropped 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. Finally, StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th.

Institutional Trading of Magna International

A number of institutional investors have recently bought and sold shares of MGA. Grove Bank & Trust grew its position in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after acquiring an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in 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 purchasing an additional 513 shares in the last quarter. Sienna Gestion boosted its holdings in Magna International by 13.0% in the second quarter. Sienna Gestion now owns 6,091 shares of the company’s stock worth $255,000 after purchasing an additional 700 shares in the last quarter. Van ECK Associates Corp increased its position in Magna International by 6.6% during the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock worth $517,000 after buying an additional 766 shares during the last quarter. Finally, Kennebec Savings Bank bought a new position in Magna International during the third quarter valued at about $32,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Price Performance

Shares of NYSE:MGA opened at $42.42 on Friday. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.81 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The stock’s 50 day moving average price is $43.47 and its 200 day moving average price is $42.39.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $10.34 billion. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Magna International will post 5.22 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.48%. Magna International’s payout ratio is 50.80%.

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.