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

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned a consensus rating of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $49.76.

Several equities analysts have commented on MGA shares. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. TD Securities dropped their price objective on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays decreased their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Raymond James lowered their target price on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a report on Tuesday, August 6th. Finally, CIBC cut their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC boosted its stake in shares of Magna International by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after buying an additional 319 shares during the last quarter. Grove Bank & Trust boosted its position in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares during the period. LRI Investments LLC bought a new stake in shares of Magna International during the 1st quarter valued at about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International during the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

Shares of NYSE MGA opened at $46.46 on Tuesday. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The stock has a market capitalization of $13.35 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.83 and a beta of 1.59. The company’s 50-day moving average is $42.14 and its 200 day moving average is $42.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, sell-side analysts expect that Magna International will post 5.22 earnings per share for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.09%. Magna International’s payout ratio is 50.80%.

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.