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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given a consensus recommendation of “Hold” by the nineteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $51.06.

Several research analysts have commented on the stock. BMO Capital Markets dropped their price objective on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Evercore reduced their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Raymond James lowered their target price on Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley decreased their price target on shares of Magna International from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th.

Magna International Stock Performance

NYSE MGA opened at $41.31 on Thursday. The business has a 50-day moving average price of $41.65 and a 200-day moving average price of $45.70. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. Magna International has a twelve month low of $38.01 and a twelve month high of $60.32. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the business earned $1.50 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities research analysts predict that Magna International will post 5.58 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Friday, August 16th. Magna International’s dividend payout ratio (DPR) is presently 53.98%.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Magna International by 2.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 148,673 shares of the company’s stock worth $8,783,000 after buying an additional 4,090 shares during the period. Parallel Advisors LLC increased its position in shares of Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after acquiring an additional 879 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Magna International by 576.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,079 shares of the company’s stock valued at $182,000 after acquiring an additional 2,624 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Magna International by 11.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 18,437 shares of the company’s stock valued at $1,089,000 after purchasing an additional 1,949 shares during the period. Finally, Azimuth Capital Investment Management LLC grew its stake in Magna International by 39.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after purchasing an additional 53,695 shares in the last quarter. Hedge funds and other 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.