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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average rating of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. One equities research 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 1 year target price among analysts that have updated their coverage on the stock in the last year is $49.88.

Several analysts have recently weighed in on the company. TD Securities decreased their price objective on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Morgan Stanley lowered shares of Magna International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. Royal Bank of Canada reduced their price objective on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. UBS Group upped their target price on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently made changes to their positions in MGA. Avior Wealth Management LLC raised its holdings in Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Magna International during the 3rd quarter worth approximately $32,000. Grove Bank & Trust boosted its holdings in shares of Magna International by 70.4% in the 3rd 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. Massmutual Trust Co. FSB ADV grew its stake 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 valued at $46,000 after buying an additional 513 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after buying an additional 301 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Stock Up 1.1 %

MGA opened at $40.81 on Wednesday. The business has a 50 day moving average of $42.98 and a 200-day moving average of $42.22. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.63 and a beta of 1.62. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a 1-year low of $38.01 and a 1-year high of $59.37.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly 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 company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Magna International will post 5.22 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued 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 dividend yield of 4.66%. Magna International’s dividend payout ratio (DPR) is 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.