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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given a consensus recommendation of “Hold” by the fifteen analysts that are covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $62.79.

Several research firms have recently issued reports on MGA. StockNews.com lowered shares of Magna International from a “buy” rating to a “hold” rating in a research note on Tuesday. TD Securities reduced their price target on shares of Magna International from $73.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, February 12th. Wells Fargo & Company dropped their price objective on shares of Magna International from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Barclays dropped their price objective on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, Scotiabank lowered their price target on shares of Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th.

Magna International Stock Up 1.0 %

Magna International stock opened at $48.35 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. Magna International has a 12-month low of $46.71 and a 12-month high of $65.27. The firm’s fifty day moving average is $53.22 and its 200 day moving average is $54.24. The company has a market capitalization of $13.89 billion, a PE ratio of 11.46, a PEG ratio of 0.48 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Magna International will post 6.11 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.475 per share. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Thursday, February 22nd. Magna International’s payout ratio is presently 45.02%.

Institutional Trading of Magna International

A number of hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in Magna International during the 3rd quarter valued at about $26,000. Sunbelt Securities Inc. increased its position in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after acquiring an additional 526 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in Magna International by 323.5% in the 2nd quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock worth $48,000 after acquiring an additional 647 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Magna International in the 1st quarter worth approximately $49,000. Institutional investors own 67.49% of the company’s stock.

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