Magna International (NYSE:MGA) Lifted to Equal Weight at Morgan Stanley


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Morgan Stanley upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from an underweight rating to an equal weight rating in a research report released on Wednesday, PriceTargets.com reports. Morgan Stanley currently has $96.00 price objective on the stock, up from their previous price objective of $61.00.

MGA has been the topic of a number of other research reports. Wells Fargo & Company began coverage on shares of Magna International in a report on Wednesday, March 31st. They set an equal weight rating and a $96.00 target price on the stock. KeyCorp upped their price objective on shares of Magna International from $86.00 to $98.00 and gave the stock an overweight rating in a research report on Monday, March 1st. Raymond James lifted their target price on shares of Magna International from $61.50 to $85.00 and gave the company a market perform rating in a research report on Monday, February 22nd. Barclays increased their price target on shares of Magna International from $75.00 to $87.00 and gave the stock an equal weight rating in a report on Monday, February 22nd. Finally, TD Securities upped their target price on shares of Magna International from $85.00 to $100.00 and gave the stock a buy rating in a research report on Monday, February 22nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $81.33.

NYSE:MGA opened at $95.55 on Wednesday. Magna International has a 12 month low of $33.79 and a 12 month high of $97.18. The company has a current ratio of 1.29, a quick ratio of 0.91 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $89.16 and its 200 day moving average is $71.04. The stock has a market capitalization of $28.84 billion, a PE ratio of 65.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Thursday, February 18th. The company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.80. The company had revenue of $10.57 billion during the quarter, compared to the consensus estimate of $10.22 billion. Magna International had a return on equity of 7.31% and a net margin of 1.46%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 EPS. Research analysts predict that Magna International will post 3.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Friday, March 5th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, March 4th. This is a positive change from Magna International’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a yield of 1.80%. Magna International’s dividend payout ratio is 26.45%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Magna International by 440.6% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,460,000 shares of the company’s stock valued at $315,456,000 after purchasing an additional 3,635,000 shares during the last quarter. QV Investors Inc. purchased a new position in Magna International in the 1st quarter worth about $42,744,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Magna International during the 4th quarter valued at about $5,289,000. Barometer Capital Management Inc. grew its stake in shares of Magna International by 82.5% in the fourth quarter. Barometer Capital Management Inc. now owns 137,425 shares of the company’s stock worth $12,383,000 after acquiring an additional 62,125 shares during the period. Finally, Twin Tree Management LP raised its holdings in shares of Magna International by 1,858.1% during the fourth quarter. Twin Tree Management LP now owns 62,639 shares of the company’s stock valued at $4,435,000 after purchasing an additional 59,440 shares during the last quarter. Institutional investors and hedge funds own 59.46% 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. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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Analyst Recommendations for Magna International (NYSE:MGA)

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