Brokerages Set Magna International Inc. (NYSE:MGA) Price Target at $49.76

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $49.76.

Several analysts have recently weighed in on the company. Barclays reduced their price target on Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company raised their price target on shares of Magna International from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. TD Securities reduced their price objective on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, UBS Group raised their target price on Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th.

Magna International Price Performance

MGA stock opened at $45.14 on Tuesday. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 0.83 and a beta of 1.59. The company has a 50 day simple moving average of $42.51 and a 200 day simple moving average of $42.61.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. Research analysts anticipate that Magna International will post 5.22 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, November 15th. Magna International’s dividend payout ratio is presently 50.80%.

Institutional Investors Weigh In On Magna International

Several hedge funds and other institutional investors have recently bought and sold shares of MGA. Toronto Dominion Bank boosted its position in shares of Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after purchasing an additional 18,704 shares in the last quarter. Geode Capital Management LLC raised its stake in Magna International by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after buying an additional 32,000 shares during the period. Public Employees Retirement System of Ohio bought a new position in Magna International in the third quarter worth approximately $1,040,000. ARGA Investment Management LP acquired a new stake in Magna International in the third quarter valued at approximately $40,710,000. Finally, BNP Paribas Financial Markets grew its stake in Magna International by 117,113.9% in the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after acquiring an additional 84,322 shares during the period. 67.49% of the stock is owned by institutional investors.

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.