Magna International (NYSE:MGA) (TSE:MG) had its target price increased by Citigroup from $61.00 to $67.00 in a research report report published on Friday morning. The brokerage currently has a buy rating on the stock.
Several other brokerages also recently commented on MGA. BMO Capital Markets reaffirmed a hold rating and issued a $61.00 target price on shares of Magna International in a research note on Thursday, January 18th. TD Securities downgraded shares of Magna International from a buy rating to a hold rating and upped their target price for the company from $62.00 to $65.00 in a research note on Friday, January 19th. Macquarie reaffirmed an outperform rating and issued a $72.00 target price (up previously from $59.00) on shares of Magna International in a research note on Tuesday, January 9th. Royal Bank of Canada upped their target price on shares of Magna International from $68.00 to $70.00 and gave the company an outperform rating in a research note on Wednesday, January 17th. Finally, Scotiabank upped their target price on shares of Magna International from $78.00 to $80.00 and gave the company an outperform rating in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $63.08.
Shares of Magna International (MGA) opened at $53.34 on Friday. Magna International has a 12 month low of $39.50 and a 12 month high of $59.99. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 0.27. The company has a market cap of $19,110.00, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Magna International’s previous quarterly dividend of $0.28. Magna International’s dividend payout ratio is 22.60%.
Several institutional investors have recently added to or reduced their stakes in MGA. FDx Advisors Inc. acquired a new position in shares of Magna International in the third quarter valued at approximately $614,000. Jarislowsky Fraser Ltd acquired a new position in shares of Magna International in the third quarter valued at approximately $382,000. Todd Asset Management LLC boosted its holdings in shares of Magna International by 53.0% in the third quarter. Todd Asset Management LLC now owns 319,941 shares of the company’s stock valued at $17,079,000 after buying an additional 110,835 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Magna International by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 515,565 shares of the company’s stock valued at $27,521,000 after buying an additional 5,999 shares during the period. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of Magna International by 53.5% in the third quarter. Mascoma Wealth Management LLC now owns 8,901 shares of the company’s stock valued at $475,000 after buying an additional 3,101 shares during the period. Institutional investors own 59.71% of the company’s stock.
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Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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