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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned a consensus rating of “Hold” from the eighteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $50.3333.

Several research firms have recently commented on MGA. Royal Bank Of Canada boosted their target price on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. TD Securities boosted their price objective on Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Evercore ISI increased 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. Morgan Stanley lifted their target price on Magna International from $38.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, December 8th. Finally, CIBC increased their price target on Magna International from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd.

Magna International Trading Up 2.5%

Shares of Magna International stock opened at $54.61 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. Magna International has a 52 week low of $30.39 and a 52 week high of $55.42. The stock has a 50 day moving average price of $50.21 and a two-hundred day moving average price of $46.12. The stock has a market capitalization of $15.35 billion, a PE ratio of 14.92 and a beta of 1.50.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The business had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.03 billion. During the same quarter last year, the firm posted $1.28 EPS. Magna International’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is presently 53.01%.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Magna International by 1.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after buying an additional 246 shares in the last quarter. Kendall Capital Management increased its position in shares of Magna International by 4.4% during the third quarter. Kendall Capital Management now owns 8,835 shares of the company’s stock valued at $419,000 after acquiring an additional 370 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Magna International by 6.0% during the third quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock worth $421,000 after acquiring an additional 505 shares during the period. Community Bank N.A. purchased a new position in Magna International in the third quarter worth $29,000. Finally, LRI Investments LLC bought a new position in Magna International in the 2nd quarter valued at $27,000. 67.49% of the stock is owned by institutional investors.

Magna International Company Profile

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.