Magna International Inc. (NYSE:MGA) Receives $51.06 Consensus Target Price from Brokerages

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $51.06.

A number of brokerages recently weighed in on MGA. Bank of America decreased their price objective on Magna International from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. UBS Group cut their price objective on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Evercore decreased their target price on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Finally, Wells Fargo & Company cut their price target on shares of Magna International from $46.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th.

Magna International Trading Up 0.3 %

NYSE MGA opened at $41.31 on Thursday. Magna International has a one year low of $38.01 and a one year high of $60.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.12. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The company’s 50-day simple moving average is $41.65 and its two-hundred day simple moving average is $45.70.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.11). The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 earnings per share. Equities analysts forecast that Magna International will post 5.58 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Friday, August 16th. Magna International’s dividend payout ratio (DPR) is currently 53.98%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. JARISLOWSKY FRASER Ltd boosted its holdings in Magna International by 5.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after purchasing an additional 395,745 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Magna International by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after acquiring an additional 289,105 shares during the period. Quantbot Technologies LP raised its position in Magna International by 616.1% during the second quarter. Quantbot Technologies LP now owns 132,688 shares of the company’s stock valued at $5,560,000 after acquiring an additional 114,160 shares in the last quarter. Millennium Management LLC lifted its holdings in Magna International by 135.5% in the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock valued at $6,818,000 after acquiring an additional 93,637 shares during the period. Finally, Azimuth Capital Investment Management LLC boosted its position in Magna International by 39.4% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after purchasing an additional 53,695 shares in 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.