Magna International Inc. (NYSE:MGA) Receives $47.03 Consensus Target Price from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $47.03.

A number of equities research analysts have issued reports on the company. UBS Group reduced their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Evercore ISI reduced their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada lowered their price target on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, February 18th. CIBC dropped their price objective on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Scotiabank decreased their price objective on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th.

Magna International Price Performance

Shares of MGA opened at $32.55 on Monday. 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 has a fifty-two week low of $31.26 and a fifty-two week high of $53.26. The company has a market cap of $9.17 billion, a P/E ratio of 9.27, a PEG ratio of 0.63 and a beta of 1.56. The firm’s 50 day moving average price is $37.34 and its 200 day moving average price is $40.65.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. On average, research analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.485 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.94 annualized dividend and a yield of 5.96%. Magna International’s payout ratio is 55.27%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently bought and sold shares of the business. 1620 Investment Advisors Inc. raised its stake in Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after acquiring an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the period. Lindbrook Capital LLC raised its stake in shares of Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Avior Wealth Management LLC lifted its holdings 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 worth $26,000 after purchasing an additional 600 shares during the period. Finally, LRI Investments LLC grew its position in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after buying an additional 723 shares during the last quarter. 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.