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

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus rating of “Hold” from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $50.3333.

A number of brokerages have recently commented on MGA. Scotiabank boosted their target price on shares of Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Wells Fargo & Company dropped their price objective on shares of Magna International from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Citigroup raised their target price on shares of Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. UBS Group lifted their target price on shares of Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently bought and sold shares of MGA. ARGA Investment Management LP boosted its stake in Magna International by 33.2% during the 3rd quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock valued at $196,557,000 after purchasing an additional 1,033,747 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Magna International during the third quarter valued at $33,593,000. Geode Capital Management LLC boosted its position in shares of Magna International by 20.2% during the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after buying an additional 338,470 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Magna International during the third quarter valued at $14,191,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Magna International in the 1st quarter worth about $8,416,000. Institutional investors own 67.49% of the company’s stock.

Magna International Stock Up 0.2%

MGA stock opened at $51.87 on Friday. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $52.20. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 14.17 and a beta of 1.53. The business’s 50 day moving average price is $47.74 and its two-hundred day moving average price is $44.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.09. The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. As a group, analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s dividend payout ratio is currently 53.01%.

About Magna International

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.