Magna International (NYSE:MGA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a report published on Wednesday morning.

Several other equities analysts have also commented on MGA. UBS Group increased their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. CIBC cut their price target on shares of Magna International from $61.00 to $59.00 and set a neutral rating on the stock in a report on Friday, April 19th. Royal Bank of Canada cut their price target on shares of Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Monday, February 12th. Wells Fargo & Company cut their price target on shares of Magna International from $60.00 to $54.00 and set an equal weight rating on the stock in a report on Monday, February 12th. Finally, Barclays cut their price target on shares of Magna International from $63.00 to $62.00 and set an equal weight rating on the stock in a report on Thursday, April 11th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $62.50.

Magna International Stock Performance

MGA stock opened at $49.12 on Wednesday. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.49 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The firm has a 50-day simple moving average of $52.66 and a two-hundred day simple moving average of $54.11. Magna International has a one year low of $46.71 and a one year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities analysts forecast that Magna International will post 6.13 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.90 dividend on an annualized basis and a yield of 3.87%. This is a boost from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio (DPR) is currently 45.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its position in shares of Magna International by 58.2% during the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after acquiring an additional 3,609,429 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after acquiring an additional 157,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Magna International by 18.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after acquiring an additional 147,950 shares during the last quarter. QV Investors Inc. boosted its position in shares of Magna International by 20.7% during the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock valued at $39,202,000 after acquiring an additional 113,332 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its position in shares of Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after acquiring an additional 53,695 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.