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

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned an average rating of “Hold” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $51.06.

Several research firms recently issued reports on MGA. Evercore lowered their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. CIBC dropped their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. BNP Paribas upgraded Magna International from a “neutral” rating to an “outperform” rating in a report on Monday, July 1st. Barclays dropped their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th.

Magna International Trading Down 0.1 %

Shares of MGA stock opened at $40.15 on Thursday. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.60 and a beta of 1.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $41.78 and a 200-day simple moving average of $45.93.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The business’s revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that Magna International will post 5.58 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Friday, August 16th. Magna International’s dividend payout ratio (DPR) is 53.98%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in Magna International by 2.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 148,673 shares of the company’s stock worth $8,783,000 after buying an additional 4,090 shares during the period. Parallel Advisors LLC raised its stake in shares of Magna International by 50.8% in the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Magna International by 576.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,079 shares of the company’s stock valued at $182,000 after purchasing an additional 2,624 shares during the period. Crossmark Global Holdings Inc. grew its stake in Magna International by 11.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,437 shares of the company’s stock worth $1,089,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC increased its holdings in Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after purchasing an additional 53,695 shares during the period. Hedge funds and other institutional investors 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.