Magna International Inc. (NYSE:MGA) Receives $44.32 Average Price Target from Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average rating of “Hold” from the twenty ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $43.74.

A number of research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada lowered shares of Magna International from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $51.00 to $32.00 in a research report on Friday, April 11th. TD Securities cut their price target on Magna International from $47.00 to $44.00 and set a “buy” rating for the company in a report on Monday. Barclays decreased their price objective on Magna International from $47.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 15th. Finally, CIBC dropped their target price on Magna International from $44.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, March 5th.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARGA Investment Management LP boosted its stake in Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock valued at $107,049,000 after buying an additional 1,568,953 shares in the last quarter. Russell Investments Group Ltd. boosted its stake 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 valued at $100,087,000 after purchasing an additional 822,375 shares in the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. increased its position in shares of Magna International by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after purchasing an additional 172,754 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Magna International by 19.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company’s stock worth $8,560,000 after purchasing an additional 41,811 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Trading Up 2.2 %

Shares of MGA stock opened at $35.01 on Friday. Magna International has a 1-year low of $30.39 and a 1-year high of $48.75. 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 business’s fifty day moving average price is $34.93 and its 200 day moving average price is $39.51. The firm has a market capitalization of $9.86 billion, a PE ratio of 9.97, a P/E/G ratio of 0.63 and a beta of 1.56.

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

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.485 per share. The ex-dividend date was 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 5.54%. Magna International’s payout ratio is currently 55.27%.

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.