Magna International Inc. (NYSE:MGA) Receives Average Rating of "Hold" from Analysts

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has earned an average rating of "Hold" from the sixteen analysts that are presently covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $59.81.

Several equities research analysts have recently issued reports on MGA shares. Wells Fargo & Company lowered their target price on shares of Magna International from $49.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on Magna International from $69.00 to $71.00 and gave the company an "overweight" rating in a research report on Monday, April 22nd. The Goldman Sachs Group reduced their price target on Magna International from $56.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, May 6th. Evercore dropped their price objective on Magna International from $62.00 to $60.00 and set an "in-line" rating for the company in a report on Monday, May 6th. Finally, StockNews.com downgraded Magna International from a "buy" rating to a "hold" rating in a research report on Friday, May 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. S.A. Mason LLC raised its stake in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock worth $69,000 after acquiring an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Magna International by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company's stock worth $72,000 after purchasing an additional 319 shares in the last quarter. UMB Bank n.a. increased its position in shares of Magna International by 13.0% during the first quarter. UMB Bank n.a. now owns 3,036 shares of the company's stock worth $165,000 after purchasing an additional 350 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Magna International by 11.7% during the 4th quarter. Van ECK Associates Corp now owns 3,995 shares of the company's stock valued at $236,000 after purchasing an additional 419 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company's stock worth $30,000 after purchasing an additional 523 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Trading Up 0.8 %

NYSE MGA traded up $0.35 during trading hours on Friday, hitting $41.90. 905,082 shares of the company were exchanged, compared to its average volume of 1,289,416. Magna International has a 52 week low of $40.83 and a 52 week high of $65.27. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $45.40 and a 200 day moving average price of $51.61. The stock has a market cap of $12.04 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.53 and a beta of 1.62.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS. Analysts forecast that Magna International will post 5.83 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.475 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.90 annualized dividend and a dividend yield of 4.53%. Magna International's dividend payout ratio is currently 53.98%.

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.