Magna International Inc. (NYSE:MGA) Given Average Rating of “Hold” by Brokerages

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average recommendation of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $51.06.

MGA has been the topic of several research reports. Raymond James cut their price target on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, August 6th. Evercore ISI reduced their target price on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Barclays decreased their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Citigroup cut their price target on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, The Goldman Sachs Group decreased their price objective on Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently made changes to their positions in MGA. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International in the 2nd quarter valued at $28,000. Sunbelt Securities Inc. lifted its stake in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares in the last quarter. LRI Investments LLC acquired a new position in Magna International during the first quarter worth about $36,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Magna International during the 1st quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Magna International by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Trading Down 0.8 %

NYSE:MGA opened at $41.06 on Friday. The company has a market capitalization of $11.80 billion, a P/E ratio of 11.66, a PEG ratio of 0.59 and a beta of 1.59. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The firm has a fifty day simple moving average of $42.17 and a 200-day simple moving average of $47.66.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $11.01 billion. Magna International had a return on equity of 12.96% and a net margin of 2.35%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. On average, equities research analysts anticipate that Magna International will post 5.68 earnings per share for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, August 16th. Magna International’s payout ratio is 53.98%.

About Magna International

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.