Magna International (NYSE:MGA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a strong-buy rating in a report published on Monday morning.

MGA has been the topic of a number of other research reports. Citigroup upped their price objective on Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Morgan Stanley upped their price target on shares of Magna International from $38.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Barclays increased their price target on shares of Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. TD Securities upped their target price on shares of Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.07.

Magna International Trading Up 1.1%

Magna International stock opened at $54.23 on Monday. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 14.82 and a beta of 1.50. The firm has a 50-day moving average of $52.19 and a 200-day moving average of $47.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. Magna International has a one year low of $30.39 and a one year high of $57.55.

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

Magna International Dividend Announcement

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

Institutional Investors Weigh In On Magna International

Institutional investors have recently made changes to their positions in the company. Community Bank N.A. acquired a new stake in Magna International during the 3rd quarter worth approximately $29,000. LRI Investments LLC bought a new position in Magna International during the 2nd quarter worth $27,000. Farther Finance Advisors LLC lifted its holdings in shares of Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after buying an additional 1,136 shares in the last quarter. Danske Bank A S bought a new stake in shares of Magna International in the third quarter valued at about $112,000. Finally, Parallel Advisors LLC boosted its position in shares of Magna International by 115.3% in the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after acquiring an additional 1,338 shares during the period. Institutional investors own 67.49% of the company’s stock.

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.