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

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average recommendation of “Hold” from the nineteen research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $49.88.

MGA has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Scotiabank lifted their target price on Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday, November 4th. CIBC increased their price target on Magna International from $46.00 to $51.00 in a report on Monday. Finally, Morgan Stanley lowered shares of Magna International from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $55.00 to $43.00 in a research note on Wednesday, September 25th.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGA. Thurston Springer Miller Herd & Titak Inc. boosted its position in Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares during the last quarter. DGS Capital Management LLC grew its position in Magna International by 25.5% during the third quarter. DGS Capital Management LLC now owns 9,976 shares of the company’s stock valued at $409,000 after buying an additional 2,027 shares during the period. Toronto Dominion Bank increased its holdings in Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after buying an additional 18,704 shares during the last quarter. Geode Capital Management LLC boosted its stake in Magna International by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after acquiring an additional 32,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Magna International during the 3rd quarter worth approximately $1,040,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Up 0.1 %

NYSE:MGA opened at $40.47 on Wednesday. Magna International has a one year low of $38.01 and a one year high of $59.37. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The company has a market cap of $11.45 billion, a PE ratio of 10.82, a P/E/G ratio of 0.81 and a beta of 1.62. The firm’s 50 day simple moving average is $43.31 and its 200 day simple moving average is $42.28.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The company had revenue of $10.28 billion during 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 company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, research analysts anticipate that Magna International will post 5.22 earnings per share for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors 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 4.69%. The ex-dividend date of this dividend was Friday, November 15th. Magna International’s dividend payout ratio (DPR) is presently 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.