Magna International (TSE:MG) Upgraded to "Hold" at Cfra Research

Key Points

• Analysts at Cfra Research have upgraded Magna International (TSE:MG) to a "hold" rating, indicating a cautious optimism about the company's prospects.
• The current average target price for Magna International's stock is C$61.00, reflecting recent adjustments by several research firms including Bank of America.
• Magna International has shown a range in stock performance with a fifty-two week low of C$43.25 and a high of C$66.42, alongside a current debt-to-equity ratio of 61.81.

Cfra Research upgraded shares of Magna International (TSE:MG - Free Report) NYSE: MGA to a hold rating in a research report released on Monday, August 4th,Zacks.com reports.

A number of other analysts have also recently commented on the company. Veritas raised Magna International to a "hold" rating in a research report on Thursday, April 24th. Royal Bank Of Canada cut Magna International from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Bank of America lifted their price target on Magna International from C$58.00 to C$61.00 in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$61.00.

Magna International Stock Down 0.9%

Shares of TSE:MG traded down C$0.52 on Monday, reaching C$57.96. The company had a trading volume of 104,973 shares, compared to its average volume of 1,594,403. Magna International has a 52-week low of C$43.25 and a 52-week high of C$66.42. The firm's 50 day simple moving average is C$54.73 and its 200-day simple moving average is C$52.25. The firm has a market capitalization of C$11.72 billion, a PE ratio of 10.88, a PEG ratio of 0.45 and a beta of 1.60. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 15th. Magna International's payout ratio is 48.07%.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.