Brokerages Set Magna International Inc. (NYSE:MGA) Target Price at $50.24

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned an average rating of “Hold” from the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $50.24.

Several equities analysts have recently commented on MGA shares. CIBC upped their target price on Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Wells Fargo & Company lowered their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. TD Securities reduced their target price on shares of Magna International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Finally, Scotiabank cut their price objective on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, January 27th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank grew its holdings in shares of Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after purchasing an additional 18,704 shares during the last quarter. Quantbot Technologies LP boosted its position in Magna International by 12.5% in the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock valued at $6,128,000 after buying an additional 16,639 shares in the last quarter. DGS Capital Management LLC grew its stake in shares of Magna International by 111.0% during the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock worth $880,000 after buying an additional 11,072 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after buying an additional 32,000 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after acquiring an additional 301 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Trading Down 4.5 %

Shares of Magna International stock opened at $37.89 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The business has a fifty day simple moving average of $41.14 and a two-hundred day simple moving average of $41.67. Magna International has a 1 year low of $35.05 and a 1 year high of $56.12. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter last year, the company posted $1.33 EPS. Magna International’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that Magna International will post 5.23 EPS for the current year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.485 dividend. The ex-dividend date is Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 5.12%. Magna International’s dividend payout ratio (DPR) is 55.27%.

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.