Magna International Inc. (MGA) Rating Reiterated by Goldman Sachs Group Inc.
Magna International Inc. (NYSE:MGA)‘s stock had its “neutral” rating reiterated by analysts at Goldman Sachs Group Inc. in a note issued to investors on Saturday. They currently have a $43.00 price target on the stock, down from their prior price target of $44.00. Goldman Sachs Group Inc.’s price target points to a potential upside of 1.82% from the company’s current price.
Several other research analysts have also recently commented on MGA. BMO Capital Markets cut shares of Magna International from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $50.00 to $36.00 in a report on Tuesday, June 28th. Wells Fargo & Co. reaffirmed a “hold” rating and set a $41.50 target price on shares of Magna International in a report on Monday, July 18th. Royal Bank Of Canada raised their target price on shares of Magna International from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Citigroup Inc. raised their target price on shares of Magna International from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Magna International in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.32.
Magna International (NYSE:MGA) opened at 42.23 on Friday. Magna International has a 12-month low of $30.41 and a 12-month high of $53.89. The firm’s 50-day moving average price is $40.99 and its 200 day moving average price is $40.07. The firm has a market cap of $16.43 billion, a P/E ratio of 8.07 and a beta of 1.60.
Magna International (NYSE:MGA) last released its quarterly earnings results on Friday, August 5th. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.07. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Magna International had a net margin of 6.12% and a return on equity of 21.14%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. Analysts forecast that Magna International will post $5.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Magna International’s dividend payout ratio (DPR) is presently 19.16%.
Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Magna International by 27.1% in the second quarter. Van ECK Associates Corp now owns 3,763 shares of the company’s stock worth $132,000 after buying an additional 803 shares during the period. IFP Advisors Inc raised its position in shares of Magna International by 10.9% in the first quarter. IFP Advisors Inc now owns 4,380 shares of the company’s stock worth $188,000 after buying an additional 431 shares during the period. Park National Corp OH raised its position in shares of Magna International by 2.9% in the second quarter. Park National Corp OH now owns 7,827 shares of the company’s stock worth $275,000 after buying an additional 220 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in shares of Magna International by 7.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 7,850 shares of the company’s stock worth $275,000 after buying an additional 550 shares during the period. Finally, Manitou Investment Management Ltd. acquired a new position in shares of Magna International during the second quarter worth approximately $302,000. Institutional investors own 58.98% of the company’s stock.
Magna International Company Profile
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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