Magna International Inc. (NYSE:MGA) Receives Consensus Rating of “Hold” from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average recommendation of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.94.

MGA has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Magna International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Raymond James reduced their price target on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a report on Tuesday, August 6th. Evercore reduced their price target 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. Citigroup reduced their price target on shares of Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Barclays reduced their price objective on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th.

Magna International Stock Performance

Shares of Magna International stock opened at $41.42 on Monday. The company has a market cap of $11.90 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.59. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $40.81 and a 200-day moving average of $44.29. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.11). The company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. Magna International’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 EPS. As a group, equities research analysts forecast that Magna International will post 5.49 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.475 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.90 annualized dividend and a yield of 4.59%. Magna International’s dividend payout ratio (DPR) is presently 55.39%.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. increased its holdings in Magna International by 11.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,437 shares of the company’s stock worth $1,089,000 after buying an additional 1,949 shares during the period. Syon Capital LLC acquired a new position in Magna International in the 4th quarter worth approximately $250,000. Sunbelt Securities Inc. boosted its position in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Magna International during the 1st quarter valued at approximately $49,000. Finally, UMB Bank n.a. lifted its position in shares of Magna International by 13.0% during the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock valued at $165,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 67.49% 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. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.