Magna International Inc. (NYSE:MGA) Stock Has Consensus Price Target of $68.87

Magna International Inc. (NYSE:MGA) (TSE:MG) has received an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.73.

A number of brokerages have recently issued reports on MGA. Wells Fargo & Company lifted their price target on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Scotiabank raised their price target on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Magna International in a research report on Tuesday, October 27th. UBS Group boosted their price target on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Magna International from a “buy” rating to a “hold” rating in a research note on Saturday.

Magna International Trading Up 2.5%

Shares of Magna International stock opened at $65.43 on Tuesday. The firm has a market capitalization of $16.99 billion, a PE ratio of 20.97, a P/E/G ratio of 0.68 and a beta of 1.46. Magna International has a twelve month low of $45.33 and a twelve month high of $73.22. The firm’s 50-day moving average price is $64.89 and its 200 day moving average price is $62.70. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, October 30th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.25. Magna International had a return on equity of 15.04% and a net margin of 1.80%. The company had revenue of $9.86 billion for the quarter, compared to analysts’ expectations of $10.01 billion. During the same period in the previous year, the firm posted $1.33 EPS. Magna International’s revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Magna International will post 7.03 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a $0.4950 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 13th. Magna International’s dividend payout ratio (DPR) is 63.46%.

Institutional Investors Weigh In On Magna International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ascent Group LLC increased its stake in Magna International by 16.5% during the third quarter. Ascent Group LLC now owns 4,409 shares of the company’s stock worth $281,000 after acquiring an additional 624 shares during the last quarter. Integrity Alliance LLC. grew its holdings in shares of Magna International by 43.1% during the 3rd quarter. Integrity Alliance LLC. now owns 5,801 shares of the company’s stock worth $369,000 after purchasing an additional 1,746 shares during the period. ARGA Investment Management LP grew its holdings in shares of Magna International by 11.0% during the 3rd quarter. ARGA Investment Management LP now owns 4,030,060 shares of the company’s stock worth $256,706,000 after purchasing an additional 397,793 shares during the period. MBA Advisors LLC purchased a new position in shares of Magna International during the 3rd quarter worth $291,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Magna International during the 3rd quarter worth about $3,406,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a global automotive supplier headquartered in Aurora, Ontario, Canada. The company designs, engineers and manufactures components and systems for automakers, serving vehicle manufacturers across North America, Europe and Asia.

Its products and services span several automotive categories, including body and chassis structures, exterior systems, powertrain and driveline components, seating, vehicle electronics, lighting, mirrors, and advanced driver assistance technologies.