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

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 morning,Zacks.com reports.

A number of other brokerages also recently weighed in on MG. Royal Bank Of Canada downgraded shares of Magna International from a "moderate buy" rating to a "hold" rating in a report on Friday, April 11th. Veritas upgraded Magna International to a "hold" rating in a research note on Thursday, April 24th. Finally, Bank of America boosted their price objective on Magna International from C$58.00 to C$61.00 in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, Magna International currently has a consensus rating of "Hold" and an average price target of C$61.00.

Magna International Stock Down 0.1%

MG traded down C$0.04 during mid-day trading on Monday, reaching C$58.48. 684,882 shares of the stock were exchanged, compared to its average volume of 1,604,238. The company has a 50 day moving average price of C$54.73 and a two-hundred day moving average price of C$52.32. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14. The stock has a market capitalization of C$11.83 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. Magna International has a 1 year low of C$43.25 and a 1 year high of C$66.42.

Magna International Announces Dividend

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

About Magna International

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.