Magna International (NYSE:MGA) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a strong-buy rating in a report released on Saturday.

Several other analysts have also weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Magna International from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Tuesday, December 9th. Citigroup increased their price target on Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. UBS Group lifted their price objective on Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Evercore ISI boosted their price objective on Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research note on Monday, November 24th. Finally, Barclays raised their target price on Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.33.

Magna International Trading Up 2.5%

Shares of MGA stock opened at $54.61 on Friday. The firm has a market capitalization of $15.35 billion, a P/E ratio of 14.92 and a beta of 1.50. Magna International has a 1 year low of $30.39 and a 1 year high of $55.42. The firm’s fifty day simple moving average is $50.21 and its 200 day simple moving average is $46.06. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The company had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. As a group, sell-side analysts predict that Magna International will post 5.87 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s payout ratio is currently 53.01%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently made changes to their positions in MGA. LRI Investments LLC bought a new position in shares of Magna International in the 2nd quarter worth $27,000. Community Bank N.A. acquired a new position in Magna International in the third quarter valued at about $29,000. Farther Finance Advisors LLC boosted its holdings in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after buying an additional 1,136 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after buying an additional 1,338 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Magna International during the 3rd quarter worth about $112,000. Institutional investors own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.