Analysts Set Magna International Inc. (NYSE:MGA) Target Price at $47.03

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has earned a consensus rating of "Hold" from the nineteen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $47.03.

Several brokerages have recently issued reports on MGA. Evercore ISI decreased their target price on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research report on Tuesday, February 18th. UBS Group cut their price target on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. CIBC cut their price target on shares of Magna International from $44.00 to $36.50 and set a "neutral" rating on the stock in a report on Wednesday. Raymond James cut their price target on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group downgraded shares of Magna International from a "neutral" rating to a "sell" rating and cut their price target for the company from $42.00 to $41.00 in a report on Wednesday, December 11th.

Institutional Investors Weigh In On Magna International

Several hedge funds have recently modified their holdings of the business. 1620 Investment Advisors Inc. lifted its position in shares of Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after purchasing an additional 276 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Magna International by 37.2% during the fourth 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. Lindbrook Capital LLC lifted its position in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after acquiring an additional 312 shares during the last quarter. Avior Wealth Management LLC lifted its position in Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Finally, LRI Investments LLC lifted its position in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company's stock.

Magna International Price Performance

Shares of NYSE MGA traded up $0.64 during mid-day trading on Thursday, hitting $38.06. 1,604,944 shares of the company's stock traded hands, compared to its average volume of 1,660,717. The company's 50-day moving average is $39.37 and its two-hundred day moving average is $41.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The company has a market capitalization of $10.74 billion, a P/E ratio of 10.84, a PEG ratio of 0.63 and a beta of 1.65. Magna International has a 1 year low of $33.30 and a 1 year high of $56.12.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. The firm had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business's revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. On average, equities analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Friday, February 28th. This is a boost from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio is presently 55.27%.

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.