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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned a consensus rating of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $49.65.

A number of analysts have recently issued reports on MGA shares. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Morgan Stanley lowered shares of Magna International from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $55.00 to $43.00 in a report on Wednesday, September 25th. TD Securities cut their price objective on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada cut their price objective on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th.

Magna International Price Performance

Shares of NYSE MGA opened at $42.22 on Friday. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The stock has a fifty day simple moving average of $43.43 and a two-hundred day simple moving average of $42.44. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Analysts anticipate that Magna International will post 5.22 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.50%. The ex-dividend date was Friday, November 15th. Magna International’s dividend payout ratio is presently 50.80%.

Hedge Funds Weigh In On Magna International

Several large investors have recently added to or reduced their stakes in the company. DGS Capital Management LLC boosted its position in shares of Magna International by 25.5% during the third quarter. DGS Capital Management LLC now owns 9,976 shares of the company’s stock worth $409,000 after acquiring an additional 2,027 shares during the last quarter. Toronto Dominion Bank grew its position in Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after acquiring an additional 18,704 shares during the last quarter. Geode Capital Management LLC boosted its position in Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after buying an additional 32,000 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Magna International in the 3rd quarter worth $1,040,000. Finally, ARGA Investment Management LP bought a new stake in shares of Magna International in the 3rd quarter valued at about $40,710,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.