Magna International (NYSE:MGA) Stock Rating Upgraded by BNP Paribas

BNP Paribas upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a neutral rating to an outperform rating in a research report sent to investors on Monday, MarketBeat.com reports.

Several other research analysts have also recently issued reports on MGA. National Bankshares lowered their price objective on Magna International from $60.00 to $57.00 and set a market perform rating for the company in a research report on Monday, May 6th. JPMorgan Chase & Co. upped their price objective on Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. CIBC lowered their price objective on Magna International from $59.00 to $54.00 and set a neutral rating for the company in a research report on Monday, May 6th. Raymond James lowered their price objective on Magna International from $60.00 to $57.00 and set a market perform rating for the company in a research report on Monday, May 6th. Finally, StockNews.com cut Magna International from a buy rating to a hold rating in a research report on Friday, May 10th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $59.81.

Magna International Trading Down 0.9 %

MGA opened at $41.53 on Monday. Magna International has a 12 month low of $40.83 and a 12 month high of $65.27. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.54 and a beta of 1.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76. The business has a fifty day moving average price of $45.25 and a 200 day moving average price of $51.47.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.18). The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. Magna International had a return on equity of 12.96% and a net margin of 2.35%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 earnings per share. Sell-side analysts expect that Magna International will post 5.83 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.475 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a yield of 4.58%. Magna International’s payout ratio is 53.98%.

Institutional Trading of Magna International

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Magna International by 35.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after acquiring an additional 289,105 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after acquiring an additional 2,727 shares during the period. QV Investors Inc. lifted its position in Magna International by 1.0% during the 1st quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock worth $36,378,000 after acquiring an additional 6,895 shares during the period. Azimuth Capital Investment Management LLC lifted its holdings 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 valued at $11,214,000 after buying an additional 53,695 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Magna International by 5.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock valued at $8,573,000 after buying an additional 8,680 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

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.