Analysts Set Magna International Inc. (NYSE:MGA) PT at $63.93

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $63.93.

Several brokerages have issued reports on MGA. Barclays dropped their price target on Magna International from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. CIBC dropped their price target on Magna International from $63.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. UBS Group boosted their target price on Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada lowered their target price on Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Syon Capital LLC purchased a new position in Magna International during the 4th quarter valued at about $250,000. Barometer Capital Management Inc. purchased a new position in shares of Magna International during the 4th quarter worth approximately $106,000. Azimuth Capital Investment Management LLC grew its holdings in shares of Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Magna International by 11.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,437 shares of the company’s stock worth $1,089,000 after acquiring an additional 1,949 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of Magna International by 576.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,079 shares of the company’s stock worth $182,000 after acquiring an additional 2,624 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

NYSE:MGA opened at $54.54 on Thursday. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.52 and a beta of 1.69. Magna International has a 52-week low of $46.71 and a 52-week high of $65.27. The stock has a fifty day moving average of $54.95 and a 200 day moving average of $54.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). The business had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. Magna International’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. On average, research analysts expect that Magna International will post 6.14 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, February 22nd. This is an increase from Magna International’s previous quarterly dividend of $0.46. Magna International’s payout ratio is currently 45.02%.

Magna International Company Profile

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.