Brokerages Set Magna International Inc. (NYSE:MGA) PT at $47.03

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus rating of “Hold” from the nineteen analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $47.03.

A number of analysts have weighed in on MGA shares. UBS Group decreased their target price on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada cut their target price on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Evercore ISI decreased their price target on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday, February 18th. Barclays lowered their price target on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently made changes to their positions in MGA. Avior Wealth Management LLC grew its stake in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares during the period. Kennebec Savings Bank acquired a new stake in Magna International during the 3rd quarter worth $32,000. LRI Investments LLC lifted its position in Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after acquiring an additional 723 shares during the period. Millstone Evans Group LLC purchased a new position in Magna International in the 4th quarter valued at $33,000. Finally, Lindbrook Capital LLC raised its holdings in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Price Performance

Shares of NYSE MGA opened at $36.43 on Thursday. The stock has a market capitalization of $10.28 billion, a PE ratio of 10.38, a P/E/G ratio of 0.63 and a beta of 1.65. Magna International has a fifty-two week low of $33.30 and a fifty-two week high of $56.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The business has a fifty day moving average price of $39.20 and a two-hundred day moving average price of $41.31.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The business had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. As a group, equities analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.33%. This is a boost from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, February 28th. Magna International’s dividend payout ratio (DPR) is presently 55.27%.

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.