Magna International Inc. (NYSE:MGA) (TSE:MG) has been assigned an average rating of “Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $66.23.

Several research firms have weighed in on MGA. JPMorgan Chase & Co. lifted their target price on Magna International from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, June 4th. ValuEngine downgraded Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. Zacks Investment Research downgraded Magna International from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Citigroup dropped their target price on Magna International from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. Finally, Royal Bank of Canada decreased their price objective on Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th.

Shares of NYSE:MGA traded down $0.80 during midday trading on Friday, reaching $54.28. 56,535 shares of the company’s stock were exchanged, compared to its average volume of 1,230,432. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.96 and a beta of 1.38. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. Magna International has a fifty-two week low of $50.78 and a fifty-two week high of $67.47.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Wednesday, August 8th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.07). The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.45 billion. Magna International had a net margin of 5.72% and a return on equity of 19.72%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. equities research analysts predict that Magna International will post 6.84 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, August 30th. This is a boost from Magna International’s previous quarterly dividend of $0.26. Magna International’s dividend payout ratio (DPR) is presently 22.15%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC purchased a new stake in Magna International during the second quarter worth approximately $116,000. Flagship Harbor Advisors LLC purchased a new stake in Magna International during the second quarter worth approximately $122,000. Glen Harbor Capital Management LLC purchased a new stake in Magna International during the second quarter worth approximately $140,000. Nisa Investment Advisors LLC purchased a new stake in Magna International during the second quarter worth approximately $163,000. Finally, Colony Group LLC purchased a new stake in Magna International during the second quarter worth approximately $267,000. Institutional investors and hedge funds own 59.19% of the company’s stock.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Analyst Recommendations for Magna International (NYSE:MGA)

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