Magna International (NYSE:MGA) (TSE:MG) had its price objective increased by TD Securities from $85.00 to $100.00 in a report released on Monday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.
A number of other research firms have also issued reports on MGA. Bank of America lowered their target price on Magna International from $79.00 to $74.00 and set a buy rating on the stock in a report on Tuesday, November 17th. TheStreet raised Magna International from a c rating to a b- rating in a report on Tuesday, November 17th. Raymond James raised their target price on Magna International from $61.50 to $85.00 and gave the company a market perform rating in a report on Monday. KeyCorp raised their target price on Magna International from $86.00 to $98.00 and gave the company an overweight rating in a report on Monday. Finally, Morgan Stanley lowered Magna International from an equal weight rating to an underweight rating in a report on Monday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $71.93.
Shares of MGA stock opened at $86.75 on Monday. The stock’s 50 day simple moving average is $75.41 and its 200 day simple moving average is $60.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.91 and a current ratio of 1.29. Magna International has a twelve month low of $22.75 and a twelve month high of $87.57. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 59.01, a PEG ratio of 2.35 and a beta of 1.61.
Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, February 18th. The company reported $2.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.80. The firm had revenue of $10.57 billion for the quarter, compared to analyst estimates of $10.22 billion. Magna International had a return on equity of 7.31% and a net margin of 1.46%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. On average, analysts forecast that Magna International will post 3.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 19th. Investors of record on Friday, March 5th will be paid a $0.43 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, March 4th. This represents a $1.72 annualized dividend and a yield of 1.98%. Magna International’s payout ratio is currently 26.45%.
Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new stake in Magna International in the 4th quarter valued at $1,237,000. Westwood Management Corp IL acquired a new stake in Magna International in the 4th quarter valued at $212,000. Manning & Napier Group LLC raised its position in Magna International by 3.8% in the 3rd quarter. Manning & Napier Group LLC now owns 42,684 shares of the company’s stock valued at $1,952,000 after purchasing an additional 1,549 shares during the last quarter. Meritage Portfolio Management raised its position in Magna International by 6.5% in the 4th quarter. Meritage Portfolio Management now owns 52,585 shares of the company’s stock valued at $3,723,000 after purchasing an additional 3,193 shares during the last quarter. Finally, Prudential PLC bought a new position in Magna International in the 3rd quarter valued at $7,122,000. 59.46% of the stock is currently owned by institutional investors and hedge funds.
Magna International Company Profile
Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers (OEMs) of vehicles and light trucks worldwide. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.
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