Analysts Set Magna International Inc. (NYSE:MGA) PT at $63.93

Magna International Inc. (NYSE:MGA) (TSE:MG) has received a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $63.93.

Several brokerages have weighed in on MGA. TD Securities dropped their price objective on shares of Magna International from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, February 12th. Barclays cut their price target on Magna International from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Raymond James lowered their price objective on Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. CIBC cut their target price on Magna International from $63.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Finally, Scotiabank decreased their price target on Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Monday, February 12th.

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently bought and sold shares of MGA. FNY Investment Advisers LLC acquired a new position in Magna International in the 3rd quarter worth about $26,000. Massmutual Trust Co. FSB ADV increased its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in Magna International by 323.5% in the 2nd quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock worth $48,000 after purchasing an additional 647 shares in the last quarter. S.A. Mason LLC increased its holdings in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after purchasing an additional 229 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in Magna International in the 4th quarter worth about $106,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Price Performance

Magna International stock opened at $54.54 on Thursday. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.52 and a beta of 1.69. The stock’s 50 day moving average is $54.95 and its 200-day moving average is $54.68. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. Magna International has a 12 month low of $46.71 and a 12 month high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). The firm had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Equities research analysts expect that Magna International will post 6.14 EPS for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.48%. Magna International’s dividend payout ratio is 45.02%.

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.