Magna International Inc. (NYSE:MGA) Receives $47.03 Average Price Target from Brokerages

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have been assigned a consensus rating of "Hold" from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $47.03.

Several equities analysts recently issued reports on MGA shares. Royal Bank of Canada cut their price objective on shares of Magna International from $52.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group downgraded 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. TD Securities decreased their price objective on Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. CIBC cut their target price on Magna International from $44.00 to $36.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley reduced their target price on shares of Magna International from $43.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd.

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Hedge Funds Weigh In On Magna International

A number of institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake in shares of Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock worth $26,000 after acquiring an additional 600 shares during the period. Kennebec Savings Bank purchased a new stake in Magna International in the third quarter valued at $32,000. LRI Investments LLC grew its position in Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after purchasing an additional 723 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Magna International during the 4th quarter valued at about $33,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after buying an additional 312 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Stock Down 1.4 %

NYSE MGA traded down $0.50 on Thursday, reaching $36.31. 800,294 shares of the stock traded hands, compared to its average volume of 1,669,383. Magna International has a 12 month low of $33.30 and a 12 month high of $56.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The company has a fifty day moving average price of $39.20 and a 200-day moving average price of $41.31. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.63 and a beta of 1.65.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The firm's quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts forecast 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. Investors of record on Friday, February 28th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.34%. The ex-dividend date is Friday, February 28th. This is an increase from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio 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.