Magna International Inc. (NYSE:MGA) Receives $47.03 Consensus PT from Brokerages

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given an average recommendation of “Hold” by the nineteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $47.03.

Several research analysts have recently commented on the stock. Scotiabank decreased their price target on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and cut their target price for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. Morgan Stanley decreased their target price on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Barclays dropped their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, CIBC dropped their target price on Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th.

Magna International Trading Down 1.0 %

NYSE MGA opened at $36.43 on Thursday. The company has a market cap of $10.28 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.63 and a beta of 1.65. The company has a 50-day moving average of $39.20 and a 200-day moving average of $41.31. Magna International has a 12 month low of $33.30 and a 12 month high of $56.12. 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 (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. The firm had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. Magna International’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. As a group, equities analysts predict that Magna International will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.485 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date is Friday, February 28th. Magna International’s dividend payout ratio is currently 55.27%.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently added to or reduced their stakes in MGA. Public Employees Retirement System of Ohio raised its stake in shares of Magna International by 99.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company’s stock worth $2,108,000 after purchasing an additional 25,142 shares during the period. Systematic Financial Management LP grew its stake in Magna International by 19.9% in the 4th quarter. Systematic Financial Management LP now owns 48,845 shares of the company’s stock worth $2,041,000 after buying an additional 8,100 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after buying an additional 723 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Magna International by 9.0% in the fourth quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company’s stock worth $2,010,000 after purchasing an additional 3,956 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Magna International by 52.3% in the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after purchasing an additional 822,375 shares during the last quarter. Institutional investors and hedge funds 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.