Magna International Inc. (NYSE:MGA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus recommendation of “Hold” from the seventeen analysts that are covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.81.

Several analysts have recently issued reports on MGA shares. Raymond James reduced their price objective on Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, May 6th. Barclays decreased their price target on shares of Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Evercore cut their price objective on shares of Magna International from $62.00 to $60.00 and set an “in-line” rating for the company in a research report on Monday, May 6th. Morgan Stanley decreased their target price on shares of Magna International from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, TD Securities cut their price target on Magna International from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, May 6th.

Hedge Funds Weigh In On Magna International

Several hedge funds and other institutional investors have recently made changes to their positions in MGA. EverSource Wealth Advisors LLC raised its position in Magna International by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after purchasing an additional 319 shares during the period. LRI Investments LLC acquired a new position in Magna International during the 1st quarter worth approximately $36,000. Russell Investments Group Ltd. boosted its holdings in Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after acquiring an additional 289,105 shares during the period. Forsta AP Fonden grew its position in Magna International by 20.4% in the first quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock valued at $3,533,000 after acquiring an additional 11,000 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Magna International by 22.2% during the first quarter. SG Americas Securities LLC now owns 36,170 shares of the company’s stock valued at $1,971,000 after purchasing an additional 6,581 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Stock Performance

NYSE MGA opened at $42.53 on Friday. The business has a 50 day moving average price of $44.97 and a 200 day moving average price of $51.31. The company has a market capitalization of $12.22 billion, a P/E ratio of 12.08, a PEG ratio of 0.54 and a beta of 1.59. Magna International has a 1-year low of $40.83 and a 1-year high of $65.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. During the same quarter in the prior year, the business earned $1.11 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Magna International will post 5.83 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Thursday, May 16th. Magna International’s payout ratio is currently 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.