Analysts Set Magna International Inc. (NYSE:MGA) Target Price at $49.88

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat reports. One 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $49.88.

Several analysts recently issued reports on MGA shares. Scotiabank increased their price target on Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Finally, TD Securities cut their target price on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sienna Gestion increased its holdings in shares of Magna International by 13.0% in the second quarter. Sienna Gestion now owns 6,091 shares of the company’s stock worth $255,000 after buying an additional 700 shares during the period. JARISLOWSKY FRASER Ltd increased its stake in Magna International by 5.9% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock worth $299,543,000 after purchasing an additional 395,745 shares during the period. Boston Research & Management Inc. lifted its position in Magna International by 18.5% in the second quarter. Boston Research & Management Inc. now owns 66,360 shares of the company’s stock valued at $2,780,000 after purchasing an additional 10,345 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Magna International by 1.9% during the second quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock valued at $67,426,000 after purchasing an additional 30,361 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Magna International by 135.5% in the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after purchasing an additional 93,637 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Stock Down 0.5 %

Shares of NYSE:MGA opened at $40.35 on Wednesday. The stock has a market cap of $11.41 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.62 and a beta of 1.62. Magna International has a 1-year low of $38.01 and a 1-year high of $59.37. The firm has a fifty day moving average price of $43.13 and a 200 day moving average price of $42.24. 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 issued its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period last year, the business posted $1.46 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Sell-side analysts predict that Magna International will post 5.22 EPS for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.475 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.71%. Magna International’s dividend payout ratio is 50.80%.

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.