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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned an average rating of “Hold” from the nineteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $47.03.

A number of brokerages recently commented on MGA. CIBC dropped their price target on Magna International from $44.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Barclays dropped their price target on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Morgan Stanley dropped their price target on Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada lowered their price objective on Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th.

Magna International Trading Up 0.6 %

Shares of NYSE:MGA opened at $38.26 on Thursday. The company has a market cap of $10.79 billion, a P/E ratio of 10.90, a PEG ratio of 0.63 and a beta of 1.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. Magna International has a 1 year low of $33.30 and a 1 year high of $56.12. The stock’s fifty day moving average price is $39.37 and its 200-day moving average price is $41.37.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. The business had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. Sell-side analysts expect that Magna International will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a yield of 5.07%. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is currently 55.27%.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGA. Avior Wealth Management LLC increased its stake in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. LRI Investments LLC increased its position in shares of Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after acquiring an additional 723 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Magna International during the third quarter worth $32,000. Millstone Evans Group LLC purchased a new stake in shares of Magna International during the fourth quarter worth $33,000. Finally, Lindbrook Capital LLC increased its position in shares of Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.