Magna International Inc. (NYSE:MGA) Given Average Recommendation of “Hold” by Brokerages

Magna International Inc. (NYSE:MGA) (TSE:MG) has received an average recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have given a buy recommendation to 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 equities analysts have commented on MGA shares. JPMorgan Chase & Co. reduced their price objective on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. TD Securities lowered their price objective 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. Morgan Stanley cut Magna International from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. Scotiabank cut their target price on Magna International from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their price target on shares of Magna International from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday.

Magna International Stock Down 4.5 %

Shares of MGA stock opened at $39.47 on Friday. The firm has a market capitalization of $11.34 billion, a P/E ratio of 11.21, a PEG ratio of 0.67 and a beta of 1.59. The firm’s fifty day moving average price is $41.39 and its two-hundred day moving average price is $43.26. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS. On average, equities analysts predict that Magna International will post 5.4 EPS for the current fiscal year.

Institutional Trading of Magna International

Several large investors have recently modified their holdings of the stock. JARISLOWSKY FRASER Ltd boosted its holdings in Magna International by 5.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock worth $299,543,000 after acquiring an additional 395,745 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after acquiring an additional 289,105 shares during the period. Quantbot Technologies LP boosted its position in Magna International by 616.1% during the second quarter. Quantbot Technologies LP now owns 132,688 shares of the company’s stock worth $5,560,000 after purchasing an additional 114,160 shares during the period. Millennium Management LLC increased its stake in shares of 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 purchasing an additional 93,637 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Magna International by 1.9% in the second quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock valued at $67,426,000 after purchasing an additional 30,361 shares during the period. Institutional investors and hedge funds 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.