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

Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $49.88.

MGA has been the subject of several recent research reports. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $43.00 in a research note on Wednesday, September 25th. Scotiabank boosted their target price on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. TD Securities dropped their target price on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. CIBC lifted their price target on Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th.

Magna International Stock Down 0.5 %

MGA stock opened at $40.35 on Wednesday. The firm has a 50-day moving average price of $43.13 and a 200-day moving average price of $42.24. Magna International has a 12 month low of $38.01 and a 12 month high of $59.37. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $11.41 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Magna International will post 5.22 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Friday, November 15th. Magna International’s dividend payout ratio (DPR) is 50.80%.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently made changes to their positions in MGA. Thurston Springer Miller Herd & Titak Inc. increased its stake in Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after buying an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares during the period. Avior Wealth Management LLC lifted its position in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Finally, Sienna Gestion lifted its holdings in shares of Magna International by 13.0% during the second quarter. Sienna Gestion now owns 6,091 shares of the company’s stock worth $255,000 after purchasing an additional 700 shares during the period. 67.49% of the stock is currently owned by hedge funds and other 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. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.