Brokerages Set Magna International Inc. (NYSE:MGA) PT at $60.00

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has received a consensus recommendation of "Hold" from the sixteen brokerages that are covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $60.00.

Several equities research analysts have commented on the company. CIBC dropped their price target on Magna International from $59.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday. Morgan Stanley cut their price target on shares of Magna International from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday. Wells Fargo & Company reduced their price target on shares of Magna International from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Monday. The Goldman Sachs Group dropped their price objective on shares of Magna International from $56.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Barclays decreased their target price on shares of Magna International from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Monday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sunbelt Securities Inc. raised its stake in Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company's stock worth $30,000 after acquiring an additional 523 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company's stock worth $40,000 after purchasing an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Magna International in the 1st quarter worth approximately $49,000. S.A. Mason LLC boosted its position in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock valued at $69,000 after purchasing an additional 229 shares during the period. Finally, Parallel Advisors LLC grew its stake in Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company's stock worth $154,000 after buying an additional 879 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

Magna International Trading Up 1.1 %

MGA traded up $0.53 during midday trading on Friday, hitting $46.93. The company's stock had a trading volume of 2,796,741 shares, compared to its average volume of 1,862,251. The firm has a market cap of $13.48 billion, a P/E ratio of 13.33, a PEG ratio of 0.48 and a beta of 1.69. Magna International has a 52-week low of $45.75 and a 52-week high of $65.27. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $51.23 and a two-hundred day moving average price of $53.76.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.18). The company had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. Magna International's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. On average, research analysts anticipate that Magna International will post 6.02 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.90 annualized dividend and a yield of 4.05%. Magna International's payout ratio is 54.26%.

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.