Brokerages Set Magna International Inc. (NYSE:MGA) PT at $47.03

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received an average recommendation of “Hold” from the nineteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $47.03.

Several analysts have recently issued reports on MGA shares. TD Securities dropped their target price on shares of Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. UBS Group decreased their price target on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Evercore ISI cut their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday, February 18th. Barclays decreased their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its holdings in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Versant Capital Management Inc acquired a new position in Magna International during the first quarter worth $27,000. LRI Investments LLC lifted its stake in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after purchasing an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Magna International during the fourth quarter worth $33,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Trading Down 1.8 %

MGA stock opened at $32.55 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. Magna International has a 52-week low of $31.26 and a 52-week high of $53.26. The company’s 50-day simple moving average is $37.34 and its 200-day simple moving average is $40.65. The firm has a market cap of $9.17 billion, a P/E ratio of 9.27, a PEG ratio of 0.63 and a beta of 1.56.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. Magna International’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. As a group, equities analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is 55.27%.

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.