Magna International Inc. (NYSE:MGA) Receives $49.65 Average Price Target from Analysts

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has earned an average rating of "Hold" from the nineteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $49.65.

Several research analysts have recently commented on the company. UBS Group lifted their target price on Magna International from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. StockNews.com raised shares of Magna International from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. TD Securities dropped their price objective on shares of Magna International from $53.00 to $52.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group cut shares of Magna International from a "neutral" rating to a "sell" rating and cut their target price for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th.

Institutional Trading of Magna International

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Magna International by 177.3% during the second quarter. Van ECK Associates Corp now owns 11,524 shares of the company's stock worth $483,000 after purchasing an additional 7,368 shares during the last quarter. Forsta AP Fonden boosted its stake in Magna International by 8.2% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the company's stock valued at $2,938,000 after buying an additional 5,300 shares in the last quarter. Quantbot Technologies LP grew its position in Magna International by 616.1% in 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 during the last quarter. Sienna Gestion raised its stake in Magna International by 13.0% during the second quarter. Sienna Gestion now owns 6,091 shares of the company's stock worth $255,000 after acquiring an additional 700 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd raised its stake in Magna International by 5.9% during the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company's stock worth $299,543,000 after acquiring an additional 395,745 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Stock Performance

MGA stock traded up $0.94 during trading hours on Friday, reaching $42.22. The stock had a trading volume of 2,049,687 shares, compared to its average volume of 1,608,878. The stock has a 50-day simple moving average of $43.43 and a 200 day simple moving average of $42.43. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The stock has a market capitalization of $12.04 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77.

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

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Friday, November 15th. Magna International's payout ratio is presently 50.80%.

Magna International Company Profile

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.