Analysts Set Magna International Inc. (NYSE:MGA) Target Price at $49.33

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus rating of “Hold” from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $50.40.

Several analysts have recently issued reports on MGA shares. Morgan Stanley lifted their target price on shares of Magna International from $38.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday. TD Securities raised their price target on shares of Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Scotiabank lifted their price objective on Magna International from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Barclays boosted their price objective on Magna International from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Finally, CIBC raised their target price on Magna International from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd.

Magna International Stock Up 0.7%

Magna International stock opened at $49.36 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. The stock has a market capitalization of $13.91 billion, a PE ratio of 13.49 and a beta of 1.53. The business has a 50 day simple moving average of $47.50 and a 200-day simple moving average of $43.93. Magna International has a 12 month low of $30.39 and a 12 month high of $50.77.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.09. The firm had revenue of $10.50 billion for the quarter, compared to analysts’ expectations of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. On average, analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s dividend payout ratio is currently 53.01%.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the business. Quantbot Technologies LP lifted its stake in Magna International by 3,849.3% in the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock worth $5,639,000 after purchasing an additional 161,707 shares in the last quarter. ARGA Investment Management LP increased its holdings in shares of Magna International by 3.9% in the second quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock valued at $120,366,000 after purchasing an additional 116,529 shares during the last quarter. United Services Automobile Association purchased a new position in Magna International during the first quarter worth approximately $305,000. Western Wealth Management LLC purchased a new position in Magna International during the second quarter worth approximately $249,000. Finally, Mediolanum International Funds Ltd acquired a new position in Magna International during the second quarter worth $4,618,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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