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

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.03.

A number of research analysts have recently commented on MGA shares. Bank of America lowered Magna International from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $48.00 in a report on Tuesday. Royal Bank of Canada lowered their price objective on Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley lowered their price objective on Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Finally, Barclays decreased their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of MGA. ARGA Investment Management LP raised its holdings in shares of Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after buying an additional 1,568,953 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Magna International by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after buying an additional 371,437 shares in the last quarter. Mufg Securities Canada LTD. raised its holdings in shares of Magna International by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after buying an additional 172,754 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Magna International by 117,113.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after buying an additional 84,322 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Performance

Shares of MGA stock opened at $36.86 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The firm has a market cap of $10.40 billion, a P/E ratio of 10.50, a PEG ratio of 0.63 and a beta of 1.65. The stock’s 50-day moving average is $39.66 and its two-hundred day moving average is $41.45. Magna International has a fifty-two week low of $33.30 and a fifty-two week high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. Analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.26%. Magna International’s dividend payout ratio is presently 55.27%.

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.