Magna International Inc. (NYSE:MGA) Receives $49.94 Consensus PT from Brokerages

by · The Cerbat Gem

Shares of Magna International Inc. (NYSE:MGA – Get Free Report) (TSE:MG) have earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $49.94.

Several brokerages have recently issued reports on MGA. BNP Paribas upgraded Magna International from a “neutral” rating to an “outperform” rating in a research note on Monday, July 1st. CIBC cut their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Barclays cut their price target on Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Citigroup cut their price target on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, Scotiabank dropped their target price on Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th.

View Our Latest Analysis on MGA

Magna International Stock Up 0.4 %

Shares of NYSE:MGA opened at $41.42 on Monday. The business has a 50-day moving average price of $40.81 and a 200 day moving average price of $44.29. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.64 and a beta of 1.59. Magna International has a 12-month low of $38.01 and a 12-month high of $60.32.

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last announced its earnings results on Friday, August 2nd. The company reported $1.35 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 firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the business earned $1.50 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. Sell-side analysts expect that Magna International will post 5.49 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.90 annualized dividend and a dividend yield of 4.59%. Magna International’s dividend payout ratio (DPR) is presently 55.39%.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Magna International in the second quarter worth $28,000. Sunbelt Securities Inc. raised its holdings in Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after buying an additional 523 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares during the period. LRI Investments LLC bought a new position in shares of Magna International in the first quarter worth about $36,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Magna International by 84.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

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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.

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