Magna International (NYSE:MGA) Stock Price Expected to Rise, UBS Group Analyst Says

Magna International (NYSE:MGA) (TSE:MG) had its price objective boosted by UBS Group from $44.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Barclays decreased their price target on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Scotiabank raised their price objective on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday. Wolfe Research reaffirmed an “underperform” rating on shares of Magna International in a report on Thursday, September 5th. Finally, The Goldman Sachs Group lowered their target price on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.76.

Magna International Trading Up 2.5 %

Magna International stock opened at $43.16 on Monday. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.68 and a beta of 1.59. The firm has a 50-day moving average of $41.37 and a 200-day moving average of $43.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a one year low of $38.01 and a one year high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. Magna International’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, equities analysts expect that Magna International will post 5.3 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company 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 annualized dividend and a yield of 4.40%. Magna International’s dividend payout ratio is presently 50.80%.

Institutional Investors Weigh In On Magna International

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in Magna International by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after acquiring an additional 319 shares during the period. Grove Bank & Trust boosted its position in Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after acquiring an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Magna International during the 1st quarter worth approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Magna International in the 2nd quarter valued at $28,000. 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.