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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given an average recommendation of “Hold” by the eighteen research firms that are covering the company, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $54.00.

A number of research firms have issued reports on MGA. JPMorgan Chase & Co. cut their target price on shares of Magna International from $69.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Raymond James cut their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, May 6th. Wells Fargo & Company cut their target price on shares of Magna International from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. StockNews.com downgraded shares of Magna International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Scotiabank cut their price target on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, May 6th.

Institutional Trading of Magna International

Hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Magna International during the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. raised its holdings in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Magna International in the first quarter valued at approximately $36,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International in the first quarter valued at approximately $49,000. Finally, S.A. Mason LLC raised its holdings in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Stock Up 0.7 %

Shares of NYSE MGA opened at $43.53 on Wednesday. The firm’s 50-day simple moving average is $43.69 and its 200 day simple moving average is $49.57. The company has a market cap of $12.51 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.59 and a beta of 1.59. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. Magna International has a 12-month low of $40.83 and a 12-month high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts expect that Magna International will post 5.71 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.90 annualized dividend and a yield of 4.36%. Magna International’s dividend payout ratio (DPR) is currently 53.98%.

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.