Analysts Set Magna International Inc. (NYSE:MGA) PT at $63.86

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have been assigned an average rating of "Hold" from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $62.93.

MGA has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded Magna International from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $73.00 to $58.00 in a research report on Wednesday, January 3rd. BMO Capital Markets dropped their target price on Magna International from $67.00 to $65.00 and set an "outperform" rating for the company in a research report on Monday, February 12th. TD Securities dropped their target price on Magna International from $73.00 to $69.00 and set a "buy" rating for the company in a research report on Monday, February 12th. Barclays dropped their target price on Magna International from $63.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Raymond James dropped their target price on Magna International from $62.00 to $60.00 and set a "market perform" rating for the company in a research report on Monday, February 12th.

Magna International Price Performance

Shares of MGA stock traded down $0.19 on Monday, hitting $49.65. 911,099 shares of the company's stock were exchanged, compared to its average volume of 1,289,536. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a 12 month low of $46.71 and a 12 month high of $65.27. The stock has a market cap of $14.26 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 0.50 and a beta of 1.69. The company has a 50 day moving average of $53.97 and a 200 day moving average of $54.40.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. Magna International's quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Magna International will post 6.11 EPS for the current year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.475 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.90 annualized dividend and a yield of 3.83%. This is a boost from Magna International's previous quarterly dividend of $0.46. Magna International's dividend payout ratio (DPR) is currently 45.02%.

Institutional Investors Weigh In On Magna International

Several large investors have recently added to or reduced their stakes in MGA. Rhumbline Advisers boosted its position in shares of Magna International by 5.0% during the third quarter. Rhumbline Advisers now owns 4,773 shares of the company's stock valued at $256,000 after buying an additional 226 shares during the last quarter. S.A. Mason LLC boosted its position in shares of Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock valued at $69,000 after buying an additional 229 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Magna International by 9.6% during the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company's stock valued at $192,000 after buying an additional 312 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Magna International during the third quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company's stock valued at $30,000 after buying an additional 523 shares during 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.