Magna International (NYSE:MGA) Upgraded at StockNews.com

StockNews.com upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a research report released on Monday.

Several other brokerages have also weighed in on MGA. TD Securities lowered their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wolfe Research reissued an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. BMO Capital Markets reduced their price target on Magna International from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Scotiabank boosted their target price on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Morgan Stanley downgraded Magna International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $43.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.76.

Magna International Price Performance

Shares of MGA opened at $42.13 on Monday. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The firm has a 50-day simple moving average of $41.34 and a 200-day simple moving average of $43.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 0.68 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the business posted $1.46 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Magna International will post 5.3 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.475 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.51%. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Magna International in the second quarter worth about $28,000. Kennebec Savings Bank acquired a new position in Magna International during the 3rd quarter valued at about $32,000. Grove Bank & Trust increased its stake in shares of Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after acquiring an additional 343 shares during the period. LRI Investments LLC bought a new stake in shares of Magna International in the 1st quarter worth $36,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.