Analysts Set Magna International Inc. (NYSE:MGA) Price Target at $41.44

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has received an average rating of "Hold" from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $41.88.

Several equities research analysts have issued reports on MGA shares. Barclays cut their price target on Magna International from $47.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, April 15th. Veritas raised shares of Magna International to a "hold" rating in a report on Thursday, April 24th. TD Securities boosted their price objective on Magna International from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, May 5th. BMO Capital Markets lowered their target price on Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group lowered their price objective on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ARGA Investment Management LP lifted its position in Magna International by 17.0% during the first quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock valued at $101,890,000 after buying an additional 436,366 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Magna International by 52.3% in the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock worth $100,087,000 after buying an additional 822,375 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Magna International by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock valued at $63,280,000 after purchasing an additional 371,437 shares in the last quarter. Amundi increased its stake in Magna International by 19.0% during the first quarter. Amundi now owns 582,710 shares of the company's stock worth $19,305,000 after acquiring an additional 93,189 shares during the last quarter. Finally, Mufg Securities Canada LTD. lifted its stake in Magna International by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock worth $17,228,000 after purchasing an additional 172,754 shares during the last quarter. Institutional investors own 67.49% of the company's stock.

Magna International Stock Up 0.6%

NYSE MGA traded up $0.26 during trading hours on Wednesday, hitting $42.49. 1,168,159 shares of the company traded hands, compared to its average volume of 1,740,540. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.76 and a beta of 1.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 1.06. Magna International has a twelve month low of $30.39 and a twelve month high of $47.22. The business's 50-day moving average is $37.29 and its 200-day moving average is $37.31.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a net margin of 2.73% and a return on equity of 11.96%. The firm had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Friday, May 16th. Magna International's dividend payout ratio (DPR) is presently 48.50%.

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.