Magna International Inc. (NYSE:MGA) Receives $51.06 Average Target Price from Analysts

Magna International Inc. (NYSE:MGA) (TSE:MG) has been given a consensus rating of “Hold” by the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $51.06.

Several equities analysts have commented on the stock. Evercore ISI dropped their price target on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Morgan Stanley cut their price target on shares of Magna International from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Scotiabank decreased their price objective on shares of Magna International from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada cut their target price on Magna International from $57.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. decreased their target price on Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th.

Magna International Trading Down 0.1 %

Shares of NYSE:MGA opened at $40.15 on Thursday. The company has a market cap of $11.54 billion, a PE ratio of 11.41, a P/E/G ratio of 0.60 and a beta of 1.59. The company’s 50 day moving average is $41.78 and its two-hundred day moving average is $45.93. Magna International has a 52 week low of $38.01 and a 52 week high of $60.32. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 earnings per share. Equities analysts predict that Magna International will post 5.58 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.475 per share. The ex-dividend date was Friday, August 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.73%. Magna International’s dividend payout ratio (DPR) is 53.98%.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC grew its stake in shares of Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after purchasing an additional 319 shares during the period. UMB Bank n.a. increased its holdings in Magna International by 13.0% in the first quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock valued at $165,000 after buying an additional 350 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the period. LRI Investments LLC acquired a new stake in shares of Magna International during the 1st quarter valued at approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International during the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors 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.