Magna International Inc. (NYSE:MGA)‘s stock had its “outperform” rating restated by Macquarie in a research note issued to investors on Friday.
A number of other equities analysts have also weighed in on the company. Citigroup Inc. increased their target price on Magna International from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. TD Securities reiterated a “buy” rating and set a $47.00 target price (up previously from $46.00) on shares of Magna International in a research note on Wednesday, August 10th. Zacks Investment Research upgraded Magna International from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, August 30th. Wells Fargo & Co. reiterated a “hold” rating and set a $41.50 target price on shares of Magna International in a research note on Monday, July 18th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Magna International in a research note on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $51.75.
Magna International (NYSE:MGA) opened at 42.89 on Friday. The firm has a 50-day moving average price of $40.74 and a 200-day moving average price of $40.03. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 8.20 and a beta of 1.60. Magna International has a 1-year low of $30.41 and a 1-year high of $53.89.
Magna International (NYSE:MGA) last released its quarterly earnings data on Friday, August 5th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.24 billion. Magna International had a return on equity of 21.14% and a net margin of 6.12%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, analysts expect that Magna International will post $5.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, August 24th. Magna International’s dividend payout ratio is presently 19.16%.
Several large investors have recently added to or reduced their stakes in MGA. Van ECK Associates Corp increased its stake in Magna International by 27.1% in the second quarter. Van ECK Associates Corp now owns 3,763 shares of the company’s stock valued at $132,000 after buying an additional 803 shares during the period. IFP Advisors Inc increased its stake in Magna International by 10.9% in the first quarter. IFP Advisors Inc now owns 4,380 shares of the company’s stock valued at $188,000 after buying an additional 431 shares during the period. Park National Corp OH increased its stake in Magna International by 2.9% in the second quarter. Park National Corp OH now owns 7,827 shares of the company’s stock valued at $275,000 after buying an additional 220 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in Magna International by 7.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 7,850 shares of the company’s stock valued at $275,000 after buying an additional 550 shares during the period. Finally, Manitou Investment Management Ltd. purchased a new stake in Magna International during the second quarter valued at $302,000. 58.98% of the stock is currently owned by institutional investors.
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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