Magna International (NYSE:MGA) Given New $111.00 Price Target at Credit Suisse Group

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by Credit Suisse Group from $91.00 to $111.00 in a research report released on Tuesday morning, Benzinga reports. Credit Suisse Group currently has an outperform rating on the stock.

Several other analysts also recently commented on the company. Wells Fargo & Company began coverage on Magna International in a research note on Wednesday, March 31st. They issued an equal weight rating and a $96.00 target price for the company. Morgan Stanley upgraded Magna International from an underweight rating to an equal weight rating and lifted their price target for the company from $61.00 to $96.00 in a research note on Wednesday, April 14th. KeyCorp lifted their price target on Magna International from $86.00 to $98.00 and gave the company an overweight rating in a research note on Monday, March 1st. TD Securities lifted their price target on Magna International from $85.00 to $100.00 and gave the company a buy rating in a research note on Monday, February 22nd. Finally, Raymond James lifted their price target on Magna International from $61.50 to $85.00 and gave the company a market perform rating in a research note on Monday, February 22nd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $81.33.

MGA stock opened at $92.31 on Tuesday. The stock has a 50-day moving average price of $90.08 and a 200-day moving average price of $72.01. Magna International has a 1-year low of $34.36 and a 1-year high of $97.18. The company has a current ratio of 1.29, a quick ratio of 0.91 and a debt-to-equity ratio of 0.37. The firm has a market cap of $27.87 billion, a PE ratio of 62.80, a price-to-earnings-growth ratio of 2.35 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Thursday, February 18th. The company reported $2.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.80. The company had revenue of $10.57 billion during the quarter, compared to the consensus estimate of $10.22 billion. Magna International had a return on equity of 7.31% and a net margin of 1.46%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. On average, analysts forecast that Magna International will post 3.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Friday, March 5th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.86%. This is an increase from Magna International’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, March 4th. Magna International’s dividend payout ratio is 26.45%.

A number of hedge funds have recently added to or reduced their stakes in MGA. QV Investors Inc. purchased a new stake in shares of Magna International during the first quarter valued at approximately $42,744,000. FDx Advisors Inc. purchased a new stake in Magna International in the first quarter worth approximately $262,000. HighPoint Advisor Group LLC purchased a new position in shares of Magna International during the 1st quarter worth $920,000. Valeo Financial Advisors LLC boosted its stake in shares of Magna International by 692.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,189 shares of the company’s stock worth $105,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Carroll Financial Associates Inc. purchased a new position in shares of Magna International during the 1st quarter worth $35,000. 59.46% of the stock is owned by institutional investors.

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. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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Analyst Recommendations for Magna International (NYSE:MGA)

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