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

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average recommendation of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $59.81.

MGA has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Barclays cut their target price on Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Evercore cut their target price on Magna International from $62.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, May 6th. CIBC cut their target price on Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Raymond James cut their target price on Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, May 6th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Natixis Advisors L.P. grew its stake in Magna International by 243.3% during the third quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock worth $2,724,000 after purchasing an additional 36,005 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares during the period. Prime Capital Investment Advisors LLC bought a new position in Magna International during the fourth quarter worth $237,000. Finally, QV Investors Inc. grew its holdings in Magna International by 20.7% in the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after purchasing an additional 113,332 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Trading Up 0.8 %

Shares of MGA stock opened at $41.89 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock has a market cap of $12.04 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.53 and a beta of 1.62. The stock has a 50 day simple moving average of $45.40 and a 200 day simple moving average of $51.63. Magna International has a 1 year low of $40.83 and a 1 year high of $65.27.

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 the consensus estimate of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter last year, the firm posted $1.11 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that Magna International will post 5.83 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Thursday, May 16th. Magna International’s dividend payout ratio is presently 53.98%.

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.