Brokerages Set Magna International Inc. (NYSE:MGA) Target Price at $44.32

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have earned an average rating of "Hold" from the twenty ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $44.32.

MGA has been the topic of several recent research reports. TD Securities lowered their target price 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. The Goldman Sachs Group reduced their price objective on Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley cut their target price on 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. UBS Group lowered their price target on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Bank of America cut shares of Magna International from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th.

Magna International Price Performance

Shares of MGA stock traded up $0.03 on Friday, reaching $34.07. 1,380,963 shares of the company were exchanged, compared to its average volume of 1,772,350. Magna International has a 1 year low of $30.39 and a 1 year high of $49.78. 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 business has a 50-day moving average price of $35.08 and a 200 day moving average price of $39.59. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 0.63 and a beta of 1.56.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion during 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%. Magna International's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 EPS. Equities research analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.485 per share. This is a positive change from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend was Friday, February 28th. Magna International's dividend payout ratio (DPR) is currently 55.27%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently modified their holdings of the company. Mufg Securities Canada LTD. grew its position in Magna International by 72.1% in 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 boosted its stake in shares of Magna International by 35.5% in the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company's stock valued at $4,719,000 after purchasing an additional 29,567 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of 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 in the last quarter. DGS Capital Management LLC increased its stake in Magna International by 111.0% during the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock worth $880,000 after buying an additional 11,072 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock worth $100,087,000 after buying an additional 822,375 shares during the period. Hedge funds and other institutional investors own 67.49% of the company's stock.

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.