Magna International Inc. (NYSE:MGA) Receives Average Recommendation of “Buy” from Analysts


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Magna International Inc. (NYSE:MGA) (TSE:MG) has received a consensus rating of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $85.29.

A number of research analysts have issued reports on MGA shares. Morgan Stanley upgraded shares of Magna International from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $61.00 to $96.00 in a research report on Tuesday, April 20th. Zacks Investment Research lowered shares of Magna International from a “strong-buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Friday, April 23rd. Barclays upgraded shares of Magna International from an “equal weight” rating to an “overweight” rating in a research report on Thursday, April 15th. Raymond James increased their target price on shares of Magna International from $61.50 to $85.00 and gave the stock a “market perform” rating in a research report on Monday, February 22nd. Finally, Wells Fargo & Company assumed coverage on shares of Magna International in a research report on Wednesday, March 31st. They set an “equal weight” rating and a $96.00 target price on the stock.

A number of large investors have recently modified their holdings of MGA. Carroll Financial Associates Inc. bought a new position in Magna International in the 1st quarter valued at approximately $35,000. Liberty Wealth Management LLC bought a new position in Magna International in the 4th quarter valued at approximately $50,000. Parallel Advisors LLC lifted its stake in Magna International by 38.8% in the 1st quarter. Parallel Advisors LLC now owns 597 shares of the company’s stock valued at $53,000 after purchasing an additional 167 shares during the last quarter. IFP Advisors Inc lifted its stake in Magna International by 147.6% in the 1st quarter. IFP Advisors Inc now owns 921 shares of the company’s stock valued at $81,000 after purchasing an additional 549 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new position in Magna International in the 4th quarter valued at approximately $101,000. 59.46% of the stock is owned by institutional investors and hedge funds.

MGA traded down $1.46 on Thursday, reaching $92.81. The company had a trading volume of 1,070,054 shares, compared to its average volume of 1,593,040. Magna International has a fifty-two week low of $34.82 and a fifty-two week high of $99.71. The stock has a market cap of $27.92 billion, a P/E ratio of 64.13, a P/E/G ratio of 2.35 and a beta of 1.61. The company’s fifty day moving average is $92.06 and its 200 day moving average is $74.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.91 and a current ratio of 1.29.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Thursday, February 18th. The company reported $2.83 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.80. Magna International had a net margin of 1.46% and a return on equity of 7.31%. The business had revenue of $10.57 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Magna International’s quarterly revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts expect that Magna International will post 3.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Friday, March 5th were paid a $0.43 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, March 4th. This represents a $1.72 annualized dividend and a yield of 1.85%. Magna International’s dividend payout ratio is presently 19.83%.

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. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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Analyst Recommendations for Magna International (NYSE:MGA)

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