Magna International (NYSE:MGA) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a strong-buy rating in a research report sent to investors on Monday.

MGA has been the topic of a number of other research reports. Evercore ISI lifted their price objective on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. Morgan Stanley upped their price target on Magna International from $38.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. BMO Capital Markets increased their price objective on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magna International in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magna International presently has a consensus rating of “Hold” and a consensus target price of $52.07.

Magna International Trading Down 2.9%

Shares of NYSE:MGA opened at $54.80 on Monday. The company has a market capitalization of $15.36 billion, a PE ratio of 14.97 and a beta of 1.50. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. Magna International has a 12-month low of $30.39 and a 12-month high of $57.55. The business’s fifty day simple moving average is $52.03 and its 200-day simple moving average is $47.46.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The firm had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $10.03 billion. During the same period in the prior year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is 53.01%.

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kendall Capital Management lifted its holdings in shares of Magna International by 4.5% in the 4th quarter. Kendall Capital Management now owns 9,230 shares of the company’s stock valued at $492,000 after buying an additional 395 shares during the period. Achmea Investment Management B.V. purchased a new position in Magna International during the third quarter valued at approximately $8,606,000. Danske Bank A S acquired a new position in Magna International in the third quarter valued at approximately $112,000. Public Employees Retirement System of Ohio boosted its position in Magna International by 196.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock worth $6,620,000 after purchasing an additional 92,613 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Magna International by 1.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after purchasing an additional 246 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.