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 an average rating of "Hold" from the nineteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $41.56.

A number of research firms have commented on MGA. Morgan Stanley cut their target price on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. BMO Capital Markets lowered their target price on Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Veritas upgraded Magna International to a "hold" rating in a report on Thursday, April 24th. TD Securities lifted their target price on Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Bank of America lowered Magna International from a "buy" rating to a "neutral" rating and cut their target price for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th.

Magna International Trading Down 0.7%

MGA traded down $0.25 during trading on Tuesday, reaching $35.42. The company had a trading volume of 1,745,888 shares, compared to its average volume of 1,732,596. The stock has a market cap of $9.98 billion, a P/E ratio of 10.09, a PEG ratio of 0.63 and a beta of 1.52. The business has a 50 day simple moving average of $34.33 and a 200-day simple moving average of $38.65. 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.

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 firm had revenue of $9.68 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. Magna International's revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Friday, May 16th. Magna International's dividend payout ratio (DPR) is presently 48.50%.

Hedge Funds Weigh In On Magna International

Several large investors have recently modified their holdings of the business. Avior Wealth Management LLC increased its position in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. LRI Investments LLC increased its position in shares of Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after acquiring an additional 723 shares during the last quarter. Versant Capital Management Inc acquired a new position in Magna International during the first quarter worth $27,000. Millstone Evans Group LLC acquired a new position in Magna International during the fourth quarter worth $33,000. Finally, Cromwell Holdings LLC grew its position in Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after acquiring an additional 466 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

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.