Magna International Inc. (NYSE:MGA) Receives $60.00 Consensus Price Target from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned an average recommendation of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $60.00.

MGA has been the topic of a number of recent analyst reports. Raymond James lowered their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday, May 6th. TD Securities lowered their target price on shares of Magna International from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. StockNews.com downgraded shares of Magna International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Morgan Stanley lowered their target price on shares of Magna International from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Evercore lowered their target price on shares of Magna International from $62.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, May 6th.

Magna International Price Performance

MGA stock opened at $43.66 on Tuesday. The firm has a 50 day moving average of $47.74 and a 200-day moving average of $52.81. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Magna International has a 12 month low of $43.04 and a 12 month high of $65.27. The firm has a market capitalization of $12.54 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter last year, the business posted $1.11 earnings per share. Magna International’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Magna International will post 5.81 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Thursday, May 16th. Magna International’s payout ratio is 53.98%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. LRI Investments LLC bought a new stake in Magna International in the first quarter valued at $36,000. Russell Investments Group Ltd. boosted its holdings in Magna International by 35.5% in the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after acquiring an additional 289,105 shares in the last quarter. Forsta AP Fonden boosted its holdings in Magna International by 20.4% in the first quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock valued at $3,533,000 after acquiring an additional 11,000 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Magna International by 22.2% in the first quarter. SG Americas Securities LLC now owns 36,170 shares of the company’s stock valued at $1,971,000 after acquiring an additional 6,581 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Magna International in the first quarter valued at $1,009,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.