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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the stock, MarketBeat reports. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $51.06.

MGA has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Evercore ISI reduced their target price on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. StockNews.com cut Magna International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. National Bankshares reduced their price objective on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, May 6th. Finally, Morgan Stanley lowered their target price on shares of Magna International from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently bought and sold shares of the stock. Lorne Steinberg Wealth Management Inc. raised its holdings in Magna International by 3.9% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after acquiring an additional 2,646 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of Magna International in the 4th quarter valued at $250,000. Van ECK Associates Corp lifted its position in shares of Magna International by 11.7% during the 4th quarter. Van ECK Associates Corp now owns 3,995 shares of the company’s stock worth $236,000 after purchasing an additional 419 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Magna International by 2.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 148,673 shares of the company’s stock worth $8,783,000 after purchasing an additional 4,090 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Magna International by 50.8% in the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after buying an additional 879 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Stock Up 3.7 %

Shares of NYSE:MGA opened at $42.56 on Friday. Magna International has a 52-week low of $38.01 and a 52-week high of $60.32. The stock has a market cap of $12.23 billion, a P/E ratio of 12.09, a PEG ratio of 0.59 and a beta of 1.59. The business has a fifty day moving average of $42.17 and a two-hundred day moving average of $47.49. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company posted $1.50 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts expect that Magna International will post 5.68 earnings per share for the current year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.475 per share. The ex-dividend date is Friday, August 16th. This represents a $1.90 annualized dividend and a yield of 4.46%. Magna International’s payout ratio is 53.98%.

About Magna International

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.