Magna International Inc. (NYSE:MGA) (TSE:MG) has received a consensus recommendation of "Buy" from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $53.33.
A number of research analysts have recently issued reports on the company. KeyCorp increased their target price on Magna International from $55.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Royal Bank of Canada increased their target price on Magna International from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Morgan Stanley increased their target price on Magna International from $33.00 to $36.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 24th. BMO Capital Markets raised their price objective on Magna International from $35.00 to $52.00 and gave the company a "market perform" rating in a report on Monday, June 15th. Finally, Credit Suisse Group raised their price objective on Magna International from $57.00 to $62.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th.
Magna International stock opened at $48.89 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.81 and a debt-to-equity ratio of 0.38. Magna International has a 12 month low of $22.75 and a 12 month high of $57.09. The stock's 50 day simple moving average is $49.67 and its two-hundred day simple moving average is $42.47. The firm has a market cap of $14.60 billion, a PE ratio of -77.60, a P/E/G ratio of 5.90 and a beta of 1.61.
Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 7th. The company reported ($1.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.03) by $0.32. Magna International had a positive return on equity of 5.84% and a negative net margin of 0.57%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $1.59 EPS. The business's revenue was down 57.6% on a year-over-year basis. On average, equities research analysts forecast that Magna International will post 1.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, August 20th. Magna International's dividend payout ratio (DPR) is presently 26.45%.
Several institutional investors and hedge funds have recently modified their holdings of MGA. Jarislowsky Fraser Ltd acquired a new position in Magna International in the second quarter valued at $160,192,000. Toronto Dominion Bank increased its stake in Magna International by 37.3% during the second quarter. Toronto Dominion Bank now owns 1,713,117 shares of the company's stock worth $76,293,000 after acquiring an additional 465,654 shares during the last quarter. Schroder Investment Management Group increased its stake in Magna International by 5.0% during the first quarter. Schroder Investment Management Group now owns 1,601,624 shares of the company's stock worth $73,322,000 after acquiring an additional 76,073 shares during the last quarter. Sound Shore Management Inc CT acquired a new stake in Magna International during the second quarter worth about $67,504,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Magna International by 5.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,420,364 shares of the company's stock worth $63,069,000 after acquiring an additional 70,672 shares during the last quarter. 58.06% of the stock is owned by institutional investors and hedge funds.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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