Magna International Inc. (NYSE:MGA) Receives $51.06 Average PT from Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average rating of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $51.06.

MGA has been the subject of several analyst reports. Citigroup dropped their target price on Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Raymond James cut their price objective on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th. Bank of America decreased their target price on shares of Magna International from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Wells Fargo & Company cut their price target on shares of Magna International from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, TD Securities decreased their price objective on Magna International from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th.

Magna International Price Performance

Shares of NYSE MGA opened at $40.20 on Thursday. The firm has a 50-day simple moving average of $41.78 and a 200-day simple moving average of $46.05. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. Magna International has a 52 week low of $38.01 and a 52 week high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The firm’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 EPS. On average, equities analysts predict that Magna International will post 5.58 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, August 30th. Shareholders of record on Friday, August 16th were paid a $0.475 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.90 annualized dividend and a yield of 4.73%. Magna International’s dividend payout ratio is presently 53.98%.

Institutional Investors Weigh In On Magna International

Several large investors have recently modified their holdings of MGA. JARISLOWSKY FRASER Ltd raised its stake in Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after acquiring an additional 395,745 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Magna International by 1.9% in the 2nd quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock worth $67,426,000 after acquiring an additional 30,361 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Magna International by 35.5% in the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after acquiring an additional 289,105 shares in the last quarter. Azimuth Capital Investment Management LLC increased its stake in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares during the period. Finally, Millennium Management LLC raised its holdings in Magna International by 135.5% during the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after purchasing an additional 93,637 shares in the last quarter. 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.