Magna International Inc. (NYSE:MGA) Given Consensus Recommendation of "Hold" by Brokerages

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

A number of research analysts have commented on the company. Wolfe Research raised Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. TD Securities decreased their price target on shares of Magna International from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday, February 18th. Barclays dropped their price objective on shares of Magna International from $50.00 to $47.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Scotiabank decreased their target price on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. Finally, Raymond James dropped their price target on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, February 18th.

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Magna International Stock Performance

Shares of NYSE MGA traded up $0.20 during mid-day trading on Monday, reaching $34.19. 1,840,469 shares of the company were exchanged, compared to its average volume of 1,721,346. The stock has a market capitalization of $9.63 billion, a P/E ratio of 9.74, a P/E/G ratio of 0.63 and a beta of 1.65. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The company's 50-day simple moving average is $37.90 and its 200-day simple moving average is $40.85. Magna International has a twelve month low of $33.28 and a twelve month high of $54.36.

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

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.485 dividend. This is an increase from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Friday, February 28th. Magna International's dividend payout ratio (DPR) is presently 55.27%.

Hedge Funds Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in MGA. Toronto Dominion Bank grew its stake in shares of Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock worth $66,810,000 after buying an additional 18,704 shares during the last quarter. Mufg Securities Canada LTD. boosted its holdings in shares of 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 in the last quarter. Jones Financial Companies Lllp grew its position in Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock worth $4,719,000 after acquiring an additional 29,567 shares during the last quarter. DGS Capital Management LLC increased its holdings in Magna International by 111.0% in the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock worth $880,000 after purchasing an additional 11,072 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Magna International by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company's stock valued at $10,000,000 after purchasing an additional 14,441 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.