KeyCorp reissued their buy rating on shares of Magna International, Inc. (NYSE:MGA) (TSE:MG) in a report released on Sunday morning.

A number of other equities research analysts also recently issued reports on MGA. ValuEngine downgraded Magna International from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. Morgan Stanley cut their price target on Magna International from $60.00 to $56.00 and set an overweight rating for the company in a research note on Friday, June 9th. BidaskClub downgraded Magna International from a buy rating to a hold rating in a research note on Saturday, June 17th. Cormark upgraded Magna International from a buy rating to a top pick rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research downgraded Magna International from a hold rating to a sell rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Magna International has a consensus rating of Buy and an average target price of $52.90.

Shares of Magna International (MGA) opened at 51.91 on Friday. Magna International has a 12-month low of $36.77 and a 12-month high of $51.98. The firm’s 50-day moving average is $47.75 and its 200 day moving average is $45.00. The stock has a market capitalization of $19.20 billion, a P/E ratio of 9.38 and a beta of 1.43.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, August 11th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. The business had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.50 billion. Magna International had a return on equity of 20.01% and a net margin of 5.73%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. On average, equities research analysts forecast that Magna International will post $5.89 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.12%. Magna International’s dividend payout ratio (DPR) is presently 19.86%.

Large investors have recently made changes to their positions in the stock. Geneva Advisors LLC bought a new position in shares of Magna International during the 2nd quarter valued at approximately $613,000. DnB Asset Management AS grew its stake in shares of Magna International by 1.8% during the 2nd quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after acquiring an additional 27,384 shares during the period. Benson Investment Management Company Inc. grew its stake in shares of Magna International by 4.0% during the 2nd quarter. Benson Investment Management Company Inc. now owns 54,440 shares of the company’s stock valued at $2,522,000 after acquiring an additional 2,095 shares during the period. US Bancorp DE grew its stake in shares of Magna International by 9.6% during the 2nd quarter. US Bancorp DE now owns 922,553 shares of the company’s stock valued at $42,742,000 after acquiring an additional 80,773 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Magna International by 5.9% during the 1st quarter. Van ECK Associates Corp now owns 5,616 shares of the company’s stock valued at $242,000 after acquiring an additional 315 shares during the period. Institutional investors own 59.46% of the company’s stock.

Magna International Company Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Analyst Recommendations for Magna International (NYSE:MGA)

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