Magna International Inc. (NYSE:MGA) Receives Consensus Rating of “Hold” from Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has been given an average recommendation of “Hold” by the sixteen analysts that are currently covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $60.00.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Magna International from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. StockNews.com downgraded shares of Magna International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Scotiabank cut their price objective on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, May 6th. Citigroup lowered their target price on shares of Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Finally, Raymond James cut their price target on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, May 6th.

Magna International Trading Down 0.3 %

NYSE MGA opened at $47.95 on Friday. Magna International has a one year low of $45.75 and a one year high of $65.27. The firm has a 50 day simple moving average of $50.70 and a 200-day simple moving average of $53.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.09. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.55 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a return on equity of 12.96% and a net margin of 2.35%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Magna International will post 5.89 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Thursday, May 16th. Magna International’s dividend payout ratio is presently 54.26%.

Hedge Funds Weigh In On Magna International

A number of large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Magna International by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock worth $50,921,000 after purchasing an additional 147,950 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in Magna International by 9.2% in the third quarter. Strengthening Families & Communities LLC now owns 35,603 shares of the company’s stock valued at $1,909,000 after acquiring an additional 2,997 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its position in shares of Magna International by 2.2% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 68,712 shares of the company’s stock worth $3,699,000 after purchasing an additional 1,449 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Magna International by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 144,583 shares of the company’s stock worth $7,751,000 after purchasing an additional 1,737 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Magna International by 9.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock valued at $192,000 after purchasing an additional 312 shares in 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.