Susquehanna Bancshares set a $57.00 price target on Magna International (NYSE:MGA) (TSE:MG) in a research report report published on Wednesday, March 14th. The firm currently has a hold rating on the stock.
Other equities research analysts have also recently issued research reports about the company. Raymond James Financial lifted their price target on Magna International from $67.00 to $68.00 and gave the company an outperform rating in a report on Thursday, January 11th. Royal Bank of Canada lifted their price target on Magna International from $68.00 to $70.00 and gave the company an outperform rating in a report on Wednesday, January 17th. Deutsche Bank boosted their target price on Magna International from $61.00 to $68.00 and gave the stock a buy rating in a report on Friday, February 23rd. Citigroup boosted their target price on Magna International from $61.00 to $67.00 and gave the stock a buy rating in a report on Friday, March 9th. Finally, KeyCorp reissued a buy rating on shares of Magna International in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $63.29.
NYSE:MGA traded down $0.53 during mid-day trading on Wednesday, reaching $58.58. The stock had a trading volume of 1,869,606 shares, compared to its average volume of 1,319,195. The company has a market capitalization of $20,732.28, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.03 and a beta of 1.35. Magna International has a 1-year low of $39.50 and a 1-year high of $59.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.22.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.01). Magna International had a return on equity of 19.61% and a net margin of 5.66%. The firm had revenue of $10.39 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same quarter last year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. equities research analysts forecast that Magna International will post 6.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from Magna International’s previous quarterly dividend of $0.28. Magna International’s payout ratio is presently 22.15%.
Several hedge funds have recently added to or reduced their stakes in MGA. Neuberger Berman Group LLC acquired a new position in Magna International during the 3rd quarter worth $5,333,000. Financial Counselors Inc. acquired a new position in Magna International during the 3rd quarter worth $258,000. Bank of Hawaii lifted its position in Magna International by 7.4% during the 4th quarter. Bank of Hawaii now owns 17,033 shares of the company’s stock worth $965,000 after acquiring an additional 1,175 shares during the last quarter. FDx Advisors Inc. lifted its position in Magna International by 10.6% during the 4th quarter. FDx Advisors Inc. now owns 12,718 shares of the company’s stock worth $721,000 after acquiring an additional 1,218 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Magna International by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 515,565 shares of the company’s stock worth $27,521,000 after acquiring an additional 5,999 shares during the last quarter. 59.97% of the stock is owned by institutional investors and hedge funds.
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About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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