Magna International Inc. (NYSE:MGA) Given Average Recommendation of "Hold" by Analysts

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have been given a consensus recommendation of "Hold" by the nineteen analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have given 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 $41.56.

Several research analysts have recently weighed in on the company. Raymond James lowered their target price on Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company upped their price objective on Magna International from $32.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Veritas raised Magna International to a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their target price on shares of Magna International from $38.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Finally, Evercore ISI decreased their price objective on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a research note on Tuesday, February 18th.

Magna International Price Performance

NYSE:MGA opened at $37.33 on Friday. Magna International has a 52 week low of $30.39 and a 52 week high of $47.22. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $10.52 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50. The stock's 50-day moving average price is $34.94 and its 200-day moving average price is $37.97.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The company's quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 annualized dividend and a yield of 5.20%. Magna International's dividend payout ratio is currently 48.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MGA. Entropy Technologies LP purchased a new position in Magna International in the fourth quarter valued at about $256,000. Bank of New York Mellon Corp grew its stake in Magna International by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company's stock worth $10,000,000 after acquiring an additional 14,441 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Magna International by 35.5% in the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock valued at $4,719,000 after purchasing an additional 29,567 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Magna International in the 4th quarter valued at $213,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.

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