Magna International (NYSE:MGA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a research note published on Wednesday morning.

Several other equities analysts have also commented on the company. CIBC reduced their price target on Magna International from $61.00 to $59.00 and set a neutral rating on the stock in a research report on Friday, April 19th. BMO Capital Markets reduced their price target on Magna International from $67.00 to $65.00 and set an outperform rating on the stock in a research report on Monday, February 12th. UBS Group lifted their price objective on Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. Royal Bank of Canada dropped their price objective on Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Monday, February 12th. Finally, Citigroup dropped their price objective on Magna International from $60.00 to $57.00 and set a neutral rating on the stock in a report on Monday, February 12th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $62.50.

Magna International Stock Performance

NYSE MGA opened at $49.12 on Wednesday. The business’s 50-day simple moving average is $52.66 and its 200-day simple moving average is $54.11. The firm has a market capitalization of $14.11 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.49 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a 1-year low of $46.71 and a 1-year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. Equities analysts predict that Magna International will post 6.13 EPS for the current year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.475 per share. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s dividend payout ratio is presently 45.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MGA. Sunbelt Securities Inc. grew its stake in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in Magna International during the 1st quarter worth $49,000. S.A. Mason LLC grew its stake in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after acquiring an additional 879 shares during the period. 67.49% of the stock is currently 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.