Analysts Set Magna International Inc. (NYSE:MGA) Target Price at $52.47

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $52.80.

A number of research analysts recently commented on MGA shares. TD Securities boosted their price target on Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Evercore ISI lifted their price objective on shares of Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. UBS Group raised their target price on Magna International from $49.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Morgan Stanley increased their target price on shares of Magna International from $38.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, December 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd.

Hedge Funds Weigh In On Magna International

Institutional investors have recently made changes to their positions in the stock. Meritage Portfolio Management bought a new position in Magna International during the third quarter worth about $3,551,000. ARGA Investment Management LP boosted its holdings in Magna International by 3.9% in the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock worth $120,366,000 after buying an additional 116,529 shares during the period. Western Wealth Management LLC purchased a new position in Magna International in the 2nd quarter valued at approximately $249,000. Mediolanum International Funds Ltd bought a new stake in Magna International during the 2nd quarter valued at $4,618,000. Finally, Leuthold Group LLC purchased a new stake in shares of Magna International during the second quarter worth $388,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Price Performance

Shares of NYSE MGA opened at $53.57 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. The business has a 50-day moving average of $52.57 and a 200-day moving average of $47.95. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 14.64 and a beta of 1.50. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $57.55.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. As a group, sell-side analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is 53.01%.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.