BMO Capital Markets upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a market perform rating to an outperform rating in a research report released on Monday, Marketbeat reports.
A number of other equities analysts have also commented on MGA. TD Securities lifted their price objective on Magna International from $65.00 to $69.00 and gave the stock a hold rating in a research note on Friday, May 11th. Scotiabank dropped their price objective on Magna International from $82.00 to $80.00 and set an outperform rating on the stock in a research note on Friday, May 11th. Royal Bank of Canada lifted their price objective on Magna International from $71.00 to $76.00 and gave the stock an outperform rating in a research note on Friday, May 11th. Susquehanna Bancshares set a $57.00 price objective on Magna International and gave the stock a hold rating in a research note on Wednesday, March 14th. Finally, KeyCorp reiterated a buy rating on shares of Magna International in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Magna International presently has a consensus rating of Buy and an average price target of $66.00.
Magna International stock opened at $66.24 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.89 and a current ratio of 1.24. The stock has a market capitalization of $23.30 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34. Magna International has a 52 week low of $65.30 and a 52 week high of $66.22.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Thursday, May 10th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.18. The business had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.02 billion. Magna International had a return on equity of 19.64% and a net margin of 5.65%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. analysts anticipate that Magna International will post 6.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 25th will be paid a dividend of $0.257 per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $1.03 annualized dividend and a yield of 1.55%. Magna International’s dividend payout ratio is 22.15%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Synovus Financial Corp bought a new position in Magna International during the first quarter valued at about $128,000. Aviance Capital Management LLC bought a new position in Magna International during the fourth quarter valued at about $156,000. We Are One Seven LLC bought a new position in Magna International during the fourth quarter valued at about $193,000. Groesbeck Investment Management Corp NJ bought a new position in Magna International during the fourth quarter valued at about $204,000. Finally, Timber Hill LLC bought a new position in Magna International during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 60.12% of the company’s stock.
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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