Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $64.09.
MGA has been the topic of several research reports. ValuEngine cut Magna International from a “hold” rating to a “sell” rating in a report on Friday, March 15th. TD Securities reduced their price target on Magna International from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 16th. Barclays restated a “hold” rating and set a $50.00 price target on shares of Magna International in a report on Sunday, January 6th. BMO Capital Markets cut Magna International from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $64.00 to $55.00 in a report on Thursday, March 21st. Finally, Wells Fargo & Co restated a “buy” rating and set a $63.00 price target (up from $62.00) on shares of Magna International in a report on Friday, February 22nd.
Magna International stock traded down $0.17 during midday trading on Wednesday, reaching $53.96. The company’s stock had a trading volume of 733,900 shares, compared to its average volume of 1,087,287. Magna International has a 52 week low of $42.88 and a 52 week high of $67.47. The company has a quick ratio of 0.82, a current ratio of 1.15 and a debt-to-equity ratio of 0.28. The stock has a market cap of $17.49 billion, a PE ratio of 8.04, a P/E/G ratio of 1.28 and a beta of 1.40.
Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 22nd. The company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. Magna International had a return on equity of 20.00% and a net margin of 5.62%. The firm had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the previous year, the business posted $1.57 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts expect that Magna International will post 6.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.365 per share. This is a boost from Magna International’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Thursday, March 7th. Magna International’s payout ratio is 21.76%.
Several institutional investors have recently bought and sold shares of MGA. Liberty Wealth Management LLC acquired a new position in shares of Magna International in the fourth quarter worth approximately $32,000. Community Bank N.A. acquired a new position in shares of Magna International in the fourth quarter worth approximately $33,000. Financial Gravity Companies Inc. acquired a new position in shares of Magna International in the fourth quarter worth approximately $36,000. Parallel Advisors LLC lifted its stake in shares of Magna International by 50.5% in the fourth quarter. Parallel Advisors LLC now owns 1,461 shares of the company’s stock worth $66,000 after acquiring an additional 490 shares during the period. Finally, Legacy Advisors LLC acquired a new position in shares of Magna International in the first quarter worth approximately $122,000. 60.00% of the stock is currently owned by institutional investors.
About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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