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

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG has received an average recommendation of "Hold" from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $49.65.

MGA has been the subject of a number of research reports. Evercore decreased their price target on Magna International from $60.00 to $50.00 and set an "in-line" rating for the company in a research note on Monday, July 15th. Citigroup dropped their price target on shares of Magna International from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, July 12th. Morgan Stanley lowered shares of Magna International from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $55.00 to $43.00 in a research report on Wednesday, September 25th. UBS Group dropped their target price on shares of Magna International from $51.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reduced their target price on shares of Magna International from $47.00 to $42.00 and set a "sector perform" rating for the company in a report on Tuesday.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of MGA. Van ECK Associates Corp grew its stake in Magna International by 6.6% in the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company's stock valued at $517,000 after purchasing an additional 766 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Magna International by 11.4% in the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company's stock worth $8,644,000 after buying an additional 21,532 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Magna International during the third quarter valued at approximately $216,000. Forsta AP Fonden lifted its stake in Magna International by 20.3% in the third quarter. Forsta AP Fonden now owns 84,300 shares of the company's stock valued at $3,462,000 after acquiring an additional 14,200 shares during the last quarter. Finally, Grove Bank & Trust grew its position in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company's stock worth $34,000 after acquiring an additional 343 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Price Performance

MGA stock traded up $2.50 during trading on Friday, hitting $41.97. The company had a trading volume of 2,886,528 shares, compared to its average volume of 1,588,298. The business has a 50 day moving average of $41.36 and a 200 day moving average of $43.23. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 0.66 and a beta of 1.59. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the company posted $1.50 earnings per share. The company's revenue was down .2% on a year-over-year basis. As a group, research analysts predict that Magna International will post 5.4 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.475 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.53%. Magna International's payout ratio is 55.39%.

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.