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

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have received a consensus rating of "Hold" from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.56.

A number of analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. BMO Capital Markets dropped their price target on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Veritas raised shares of Magna International to a "hold" rating in a report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Scotiabank dropped their price target on shares of Magna International from $45.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th.

Magna International Stock Performance

Magna International stock opened at $36.65 on Tuesday. The firm's 50 day simple moving average is $34.38 and its 200 day simple moving average is $38.84. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $10.33 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. Magna International has a 1-year low of $30.39 and a 1-year high of $47.63.

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

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Friday, May 16th. Magna International's dividend payout ratio is currently 48.50%.

Hedge Funds Weigh In On Magna International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. United Services Automobile Association purchased a new stake in Magna International during the first quarter worth approximately $305,000. Integrated Wealth Concepts LLC lifted its stake in Magna International by 19.8% during the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company's stock worth $231,000 after purchasing an additional 1,123 shares during the last quarter. Amundi lifted 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 purchasing an additional 93,189 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Magna International during the first quarter worth approximately $8,416,000. Finally, Quantbot Technologies LP lifted its stake in Magna International by 3,849.3% during the first quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock worth $5,639,000 after purchasing an additional 161,707 shares during the last quarter. Hedge funds and other institutional investors 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.

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