Magna International Inc. (NYSE:MGA) Given Average Rating of “Buy” by Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average rating of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $92.64.

MGA has been the topic of several recent analyst reports. Edward Jones raised shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, June 21st. BMO Capital Markets raised their target price on shares of Magna International from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, May 31st. TD Securities dropped their target price on shares of Magna International from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 9th. The Goldman Sachs Group upgraded shares of Magna International from a “neutral” rating to a “buy” rating and raised their target price for the stock from $97.00 to $120.00 in a report on Wednesday, June 23rd. Finally, Credit Suisse Group dropped their target price on shares of Magna International from $122.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, August 11th.

NYSE:MGA traded up $1.06 during mid-day trading on Wednesday, reaching $80.00. 89,333 shares of the company were exchanged, compared to its average volume of 1,442,435. Magna International has a 12 month low of $43.08 and a 12 month high of $104.28. The company has a fifty day moving average of $83.01 and a 200 day moving average of $89.87. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a market cap of $24.06 billion, a PE ratio of 10.92, a PEG ratio of 0.56 and a beta of 1.54.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, August 6th. The company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.04). The company had revenue of $9.03 billion for the quarter, compared to the consensus estimate of $9.28 billion. Magna International had a return on equity of 20.83% and a net margin of 5.61%. The firm’s revenue was up 110.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.71) EPS. On average, equities research analysts anticipate that Magna International will post 7.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were given a $0.43 dividend. The ex-dividend date was Thursday, August 19th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.15%. Magna International’s payout ratio is presently 43.54%.

Several institutional investors have recently made changes to their positions in MGA. Van ECK Associates Corp acquired a new position in Magna International in the first quarter valued at about $30,000. Harvest Fund Management Co. Ltd raised its stake in Magna International by 71.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 446 shares of the company’s stock valued at $39,000 after purchasing an additional 186 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Magna International by 1,772.0% in the first quarter. First Horizon Advisors Inc. now owns 468 shares of the company’s stock valued at $41,000 after purchasing an additional 443 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Magna International by 286.4% in the second quarter. Brown Brothers Harriman & Co. now owns 568 shares of the company’s stock valued at $53,000 after purchasing an additional 421 shares in the last quarter. Finally, Certified Advisory Corp acquired a new position in Magna International in the first quarter valued at about $53,000. 59.14% of the stock is owned by institutional investors.

About Magna International

Magna International, Inc is a mobility technology company, which supplies to the automotive industry. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems and roof systems operations.

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Analyst Recommendations for Magna International (NYSE:MGA)

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