Magna International Inc. (NYSE:MGA) Receives $49.65 Average Price Target from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received an average rating of “Hold” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. One 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 price target among brokerages that have issued a report on the stock in the last year is $49.65.

A number of brokerages have recently issued reports on MGA. TD Securities decreased their target price on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. UBS Group increased their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group cut Magna International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th.

Magna International Trading Down 0.4 %

Shares of Magna International stock opened at $42.05 on Friday. The firm has a 50-day simple moving average of $43.44 and a two-hundred day simple moving average of $42.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The company has a market cap of $12.08 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61.

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

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.52%. Magna International’s dividend payout ratio is presently 50.80%.

Institutional Investors Weigh In On Magna International

Hedge funds have recently modified their holdings of the company. ARGA Investment Management LP purchased a new position in Magna International during the third quarter worth about $40,710,000. JARISLOWSKY FRASER Ltd raised its position in shares of 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 buying an additional 395,745 shares during the period. Quantbot Technologies LP lifted its holdings in Magna International by 616.1% in the second quarter. Quantbot Technologies LP now owns 132,688 shares of the company’s stock valued at $5,560,000 after acquiring an additional 114,160 shares during the last quarter. Millennium Management LLC grew its position in Magna International by 135.5% in the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after acquiring an additional 93,637 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after acquiring an additional 84,322 shares during the last quarter. 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.