Magna International Inc. (NYSE:MGA) Receives $49.65 Average PT from Brokerages

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.65.

MGA has been the subject of several research reports. Scotiabank increased their price objective on Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. TD Securities decreased their price objective on Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wells Fargo & Company lowered their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $43.00 in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group cut shares of Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th.

Magna International Stock Down 0.6 %

Shares of NYSE:MGA opened at $42.16 on Friday. Magna International has a 1 year low of $38.01 and a 1 year high of $59.86. The company has a market capitalization of $12.02 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61. The business has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $42.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.20). The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. Magna International’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. Analysts forecast that Magna International will post 5.22 earnings per share for the current year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.51%. Magna International’s payout ratio is presently 50.80%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently made changes to their positions in MGA. Kennebec Savings Bank bought a new position in Magna International in the third quarter valued at $32,000. Grove Bank & Trust raised its holdings in shares of Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after buying an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position 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 worth $46,000 after buying an additional 513 shares during the last quarter. Tobam boosted its stake in Magna International by 94.3% in the third quarter. Tobam now owns 4,373 shares of the company’s stock worth $179,000 after buying an additional 2,122 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new position in Magna International during the third quarter valued at approximately $216,000. Hedge funds and other 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.