ValuEngine upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a sell rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Several other analysts have also recently weighed in on the company. Evercore ISI reaffirmed a hold rating and issued a $52.00 price target on shares of Magna International in a report on Sunday, August 11th. Citigroup set a $63.00 price objective on Magna International and gave the company a buy rating in a report on Monday, August 26th. Zacks Investment Research cut Magna International from a hold rating to a sell rating and set a $51.00 price objective on the stock. in a report on Tuesday, July 16th. Barclays reissued a hold rating and set a $51.00 price objective on shares of Magna International in a report on Thursday, July 18th. Finally, Credit Suisse Group started coverage on Magna International in a report on Wednesday, June 26th. They set a neutral rating and a $55.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $57.67.

Shares of NYSE:MGA traded up $0.26 on Tuesday, hitting $54.32. The company’s stock had a trading volume of 36,964 shares, compared to its average volume of 834,680. The company has a 50-day simple moving average of $49.43 and a 200 day simple moving average of $49.36. Magna International has a 1 year low of $42.51 and a 1 year high of $57.85. The company has a market capitalization of $16.71 billion, a PE ratio of 8.10, a PEG ratio of 1.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.21 and a quick ratio of 0.84.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.05. Magna International had a return on equity of 18.19% and a net margin of 6.35%. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.91 billion. During the same quarter last year, the firm posted $1.67 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that Magna International will post 6.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.365 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.69%. Magna International’s dividend payout ratio is 21.76%.

A number of institutional investors and hedge funds have recently bought and sold shares of MGA. Scheer Rowlett & Associates Investment Management Ltd. grew its position in Magna International by 48.7% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,071,757 shares of the company’s stock worth $53,442,000 after acquiring an additional 351,054 shares during the last quarter. Prudential PLC grew its position in Magna International by 172.5% during the 2nd quarter. Prudential PLC now owns 297,342 shares of the company’s stock worth $14,792,000 after acquiring an additional 188,220 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Magna International by 40.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 572,636 shares of the company’s stock worth $27,755,000 after acquiring an additional 165,443 shares during the last quarter. Cornerstone Investment Partners LLC grew its position in Magna International by 9.1% during the 2nd quarter. Cornerstone Investment Partners LLC now owns 1,371,445 shares of the company’s stock worth $68,161,000 after acquiring an additional 113,851 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Magna International by 40.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 292,640 shares of the company’s stock worth $14,592,000 after acquiring an additional 84,300 shares during the last quarter. Institutional investors and hedge funds own 55.34% 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 Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Analyst Recommendations for Magna International (NYSE:MGA)

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