Magna International Inc. (NYSE:MGA) Receives Average Recommendation of “Hold” from Analysts

Shares of Magna International Inc. (NYSE:MGAGet Free Report) (TSE:MG) have been given an average recommendation of “Hold” by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $66.67.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Magna International from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, November 6th. Barclays dropped their price target on shares of Magna International from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Evercore upped their target price on shares of Magna International from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group cut shares of Magna International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $73.00 to $58.00 in a research note on Wednesday, January 3rd.

View Our Latest Report on MGA

Institutional Trading of Magna International

Several large investors have recently made changes to their positions in MGA. Pzena Investment Management LLC lifted its stake in shares of Magna International by 58.2% in the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after purchasing an additional 3,609,429 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Magna International by 8.7% in the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after acquiring an additional 157,808 shares during the last quarter. Geode Capital Management LLC grew its stake in Magna International by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 956,958 shares of the company’s stock worth $54,277,000 after buying an additional 51,286 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after buying an additional 2,727 shares during the last quarter. Finally, QV Investors Inc. grew its stake in shares of Magna International by 20.7% in the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock valued at $39,202,000 after purchasing an additional 113,332 shares during the last quarter. 62.21% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Price Performance

MGA opened at $57.00 on Wednesday. The firm has a 50-day moving average price of $56.22 and a 200-day moving average price of $55.98. The company has a market capitalization of $16.33 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.45 and a beta of 1.73. Magna International has a twelve month low of $46.71 and a twelve month high of $68.92. The company has a quick ratio of 0.75, a current ratio of 1.11 and a debt-to-equity ratio of 0.35.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last announced its quarterly earnings data on Friday, November 3rd. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.12. Magna International had a net margin of 2.47% and a return on equity of 12.36%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same period in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Equities analysts expect that Magna International will post 5.46 EPS for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Thursday, November 16th. Magna International’s payout ratio is presently 50.97%.

About Magna International

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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.

Further Reading

Analyst Recommendations for Magna International (NYSE:MGA)

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