Magna International Inc. (NYSE:MGA) Receives $47.03 Consensus Target Price from Analysts

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has been assigned an average recommendation of "Hold" from the nineteen analysts 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 issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $47.03.

Several equities analysts have recently issued reports on the company. Bank of America cut Magna International from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th. Morgan Stanley decreased their price target on shares of Magna International from $43.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group cut shares of Magna International from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Royal Bank of Canada reduced 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. Finally, Scotiabank lowered their target price on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th.

Institutional Trading of Magna International

A number of large investors have recently bought and sold shares of the business. ARGA Investment Management LP raised its holdings in shares of Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock valued at $107,049,000 after buying an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. increased its position in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock valued at $100,087,000 after acquiring an additional 822,375 shares during the period. Geode Capital Management LLC increased its position in Magna International by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock valued at $63,280,000 after acquiring an additional 371,437 shares during the period. Mufg Securities Canada LTD. raised its stake in Magna International by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock valued at $17,228,000 after acquiring an additional 172,754 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Magna International by 117,113.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company's stock worth $3,464,000 after acquiring an additional 84,322 shares during the period. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Stock Down 3.9 %

MGA traded down $1.37 during trading hours on Monday, hitting $33.21. 2,627,539 shares of the company's stock were exchanged, compared to its average volume of 1,724,004. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Magna International has a 12-month low of $32.78 and a 12-month high of $53.53. The firm has a market cap of $9.35 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. The firm has a 50 day moving average of $37.52 and a 200 day moving average of $40.71.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company's revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. Analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.84%. This is a boost from Magna International's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, February 28th. Magna International's payout ratio is presently 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.