Brokerages Set Magna International Inc. (NYSE:MGA) PT at $49.76

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $49.76.

MGA has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday, November 4th. Royal Bank of Canada cut their price target on Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Wolfe Research reissued an “underperform” rating on shares of Magna International in a report on Thursday, September 5th. TD Securities dropped their price objective on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th.

Hedge Funds Weigh In On Magna International

Institutional investors have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in shares of Magna International in the 1st quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Magna International in the second quarter valued at $28,000. Kennebec Savings Bank acquired a new position in shares of Magna International during the third quarter valued at $32,000. Grove Bank & Trust grew its position in shares of Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after acquiring an additional 343 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after acquiring an additional 513 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Stock Performance

Shares of NYSE:MGA opened at $44.95 on Tuesday. The company has a market cap of $12.92 billion, a P/E ratio of 12.02, a PEG ratio of 0.85 and a beta of 1.59. Magna International has a one year low of $38.01 and a one year high of $60.32. The business’s 50-day simple moving average is $42.40 and its 200 day simple moving average is $42.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. On average, sell-side analysts forecast that Magna International will post 5.22 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.475 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.23%. Magna International’s dividend payout ratio is currently 50.80%.

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.