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

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have earned an average recommendation of "Hold" from the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $49.65.

A number of research firms have recently issued reports on MGA. The Goldman Sachs Group cut Magna International from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Magna International from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. TD Securities reduced their price objective on shares of Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a report on Monday, September 30th. Wolfe Research raised shares of Magna International from an "underperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada cut their price target on shares of Magna International from $42.00 to $41.00 and set a "sector perform" rating for the company in a research note on Monday, November 4th.

Magna International Stock Performance

NYSE:MGA traded up $0.94 during mid-day trading on Friday, hitting $42.22. 2,049,687 shares of the company's stock traded hands, compared to its average volume of 1,608,878. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61. The firm has a 50 day moving average of $43.43 and a two-hundred day moving average of $42.44. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

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

Magna International Dividend Announcement

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

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kennebec Savings Bank bought a new stake in shares of Magna International during the third quarter worth approximately $32,000. Grove Bank & Trust lifted its stake in shares of Magna International by 70.4% in 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 during the period. Massmutual Trust Co. FSB ADV boosted its position 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. Tobam grew its stake in shares of Magna International by 94.3% during the third quarter. Tobam now owns 4,373 shares of the company's stock worth $179,000 after purchasing an additional 2,122 shares during the period. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Magna International during the third quarter worth $216,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.