Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $60.63.
A number of equities research analysts have recently commented on MGA shares. ValuEngine downgraded shares of Magna International from a “hold” rating to a “sell” rating in a report on Friday, March 15th. CIBC downgraded shares of Magna International from a “sector outperform” rating to a “neutral” rating in a report on Monday, April 15th. Wolfe Research downgraded shares of Magna International from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 1st. BMO Capital Markets downgraded shares of Magna International from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $64.00 to $55.00 in a report on Thursday, March 21st. Finally, TD Securities downgraded shares of Magna International from a “buy” rating to a “hold” rating and boosted their target price for the company from $59.00 to $61.00 in a report on Friday, February 22nd.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC acquired a new stake in Magna International in the first quarter valued at $329,000. Horizon Investments LLC acquired a new stake in Magna International in the first quarter valued at $2,090,000. Kore Private Wealth LLC acquired a new stake in Magna International in the first quarter valued at $36,000. One Wealth Advisors LLC acquired a new stake in Magna International in the first quarter valued at $214,000. Finally, Advisors Asset Management Inc. raised its holdings in Magna International by 8.4% in the first quarter. Advisors Asset Management Inc. now owns 7,140 shares of the company’s stock valued at $348,000 after acquiring an additional 552 shares in the last quarter. 56.72% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MGA traded up $1.27 during mid-day trading on Thursday, hitting $44.85. 104,428 shares of the company’s stock traded hands, compared to its average volume of 1,596,914. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.26. Magna International has a 1 year low of $42.51 and a 1 year high of $66.81. The company has a market capitalization of $14.18 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.57.
Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Thursday, May 9th. The company reported $1.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.10). The business had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Magna International had a net margin of 6.75% and a return on equity of 19.01%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. On average, equities research analysts predict that Magna International will post 6.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.46 dividend on an annualized basis and a yield of 3.26%. Magna International’s dividend payout ratio (DPR) is 21.76%.
Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
Recommended Story: What are gap-down stocks?
Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with MarketBeat.com's FREE daily email newsletter.