Magna International Inc. (NYSE:MGA) Given Consensus Recommendation of “Hold” by Analysts

Magna International Inc. (NYSE:MGAGet Free Report) (TSE:MG) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.93.

Several research firms have issued reports on MGA. BMO Capital Markets lowered their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. TD Securities lowered their price target on shares of Magna International from $73.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, February 12th. Wells Fargo & Company lowered their price target on shares of Magna International from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Scotiabank decreased their target price on shares of Magna International from $62.00 to $59.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Magna International from $77.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th.

Check Out Our Latest Research Report on MGA

Magna International Stock Performance

Shares of NYSE MGA opened at $54.97 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The company has a market cap of $15.77 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.51 and a beta of 1.69. The firm’s fifty day moving average is $55.04 and its two-hundred day moving average is $54.82. Magna International has a 52-week low of $46.71 and a 52-week high of $65.27.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last posted its earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, analysts anticipate that Magna International will post 6.14 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.475 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s dividend payout ratio (DPR) is currently 45.02%.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC increased its stake in Magna International by 58.2% in the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after buying an additional 3,609,429 shares during the period. Toronto Dominion Bank boosted its position in shares of Magna International by 8.7% in the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after buying an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Magna International by 18.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock worth $50,921,000 after buying an additional 147,950 shares in the last quarter. QV Investors Inc. boosted its position in shares of Magna International by 20.7% in the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after buying an additional 113,332 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its position in shares of Magna International by 39.4% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after buying an additional 53,695 shares in the last quarter. 62.21% of the stock is owned by hedge funds and other institutional investors.

About Magna International

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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.

Further Reading

Analyst Recommendations for Magna International (NYSE:MGA)

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