Shares of Magna International, Inc. (NYSE:MGA) (TSE:MG) have received an average rating of “Buy” from the sixteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $53.50.

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup Inc. boosted their price objective on shares of Magna International from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Cormark raised shares of Magna International from a “buy” rating to a “top pick” rating in a research report on Tuesday, July 11th. Morgan Stanley cut their price objective on shares of Magna International from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, Scotiabank boosted their price objective on shares of Magna International from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, May 12th.

Shares of Magna International (NYSE:MGA) opened at 46.62 on Friday. The stock’s 50 day moving average is $47.28 and its 200-day moving average is $44.42. The firm has a market cap of $17.24 billion, a P/E ratio of 8.42 and a beta of 1.44. Magna International has a one year low of $36.77 and a one year high of $48.90.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 earnings per share. Analysts anticipate that Magna International will post $5.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, August 30th. Magna International’s dividend payout ratio (DPR) is 19.86%.

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A number of institutional investors have recently modified their holdings of MGA. Advisory Services Network LLC raised its position in shares of Magna International by 17.2% in the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after buying an additional 625 shares during the period. Laurel Wealth Advisors Inc. raised its stake in Magna International by 5.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after buying an additional 261 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in Magna International by 16.6% in the second quarter. Hillsdale Investment Management Inc. now owns 281,590 shares of the company’s stock valued at $13,048,000 after buying an additional 40,100 shares during the last quarter. Bank of Hawaii raised its stake in Magna International by 26.5% in the second quarter. Bank of Hawaii now owns 7,057 shares of the company’s stock valued at $327,000 after buying an additional 1,479 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in Magna International by 62.5% in the second quarter. D.A. Davidson & CO. now owns 14,857 shares of the company’s stock valued at $688,000 after buying an additional 5,715 shares during the last quarter. 60.44% of the stock is owned by hedge funds and other institutional investors.

About Magna International

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Analyst Recommendations for Magna International (NYSE:MGA)

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