Analysts Set Magna International Inc. (NYSE:MGA) Price Target at $49.88

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has earned a consensus rating of "Hold" from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $49.88.

A number of research firms have recently weighed in on MGA. Morgan Stanley downgraded shares of Magna International from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $55.00 to $43.00 in a research report on Wednesday, September 25th. TD Securities dropped their target price on shares of Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, September 30th. CIBC increased their price target on shares of Magna International from $46.00 to $51.00 in a research report on Monday. Royal Bank of Canada lowered their price objective on Magna International from $42.00 to $41.00 and set a "sector perform" rating for the company in a report on Monday, November 4th. Finally, StockNews.com raised Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently modified their holdings of the company. Kennebec Savings Bank bought a new position in Magna International during the third quarter valued at about $32,000. Grove Bank & Trust boosted its position in shares of Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock valued at $34,000 after purchasing an additional 343 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Magna International by 37.2% during the 4th 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 in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company's stock worth $46,000 after purchasing an additional 513 shares during the last quarter. Finally, Tobam raised its holdings in shares of Magna International by 94.3% in the 3rd quarter. Tobam now owns 4,373 shares of the company's stock worth $179,000 after purchasing an additional 2,122 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Stock Up 1.4 %

MGA traded up $0.57 during trading hours on Wednesday, reaching $40.99. 1,195,576 shares of the stock traded hands, compared to its average volume of 1,109,942. 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 firm's fifty day simple moving average is $43.24 and its two-hundred day simple moving average is $42.27. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.81 and a beta of 1.62. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $59.37.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the firm posted $1.46 EPS. The company's revenue was down 3.8% compared to the same quarter last year. As a group, analysts forecast that Magna International will post 5.22 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.64%. Magna International's dividend payout ratio (DPR) is 50.80%.

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.