Shares of Magna International (NYSE:MGA) (TSE:MG) have been assigned an average rating of “Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $64.08.
Several analysts have recently weighed in on the company. Wells Fargo upgraded Magna International from a “market perform” rating to an “outperform” rating in a research report on Friday, January 12th. Morgan Stanley downgraded Magna International from an “equal weight” rating to an “underweight” rating and set a $52.00 target price for the company. in a research report on Thursday, March 22nd. Susquehanna Bancshares set a $57.00 target price on Magna International and gave the stock a “hold” rating in a research report on Wednesday, March 14th. Deutsche Bank lifted their target price on Magna International from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Bank of America set a $67.00 target price on Magna International and gave the stock a “buy” rating in a research report on Friday, March 16th.
MGA traded down $0.53 during trading on Friday, reaching $58.58. The company had a trading volume of 1,869,606 shares, compared to its average volume of 1,319,195. The company has a market cap of $20,919.88, a PE ratio of 9.83, a P/E/G ratio of 1.04 and a beta of 1.35. Magna International has a 52 week low of $39.50 and a 52 week 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 also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.25%. This is a positive change from Magna International’s previous quarterly dividend of $0.28. Magna International’s dividend payout ratio (DPR) is currently 22.15%.
Several institutional investors have recently made changes to their positions in MGA. Bank of New York Mellon Corp increased its stake in shares of Magna International by 1.2% during 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. Financial Counselors Inc. purchased a new position in shares of Magna International during the third quarter valued at $258,000. Segall Bryant & Hamill LLC purchased a new position in shares of Magna International during the third quarter valued at $214,000. Neuberger Berman Group LLC purchased a new position in shares of Magna International during the third quarter valued at $5,333,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Magna International by 13.0% during the third quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock valued at $33,636,000 after buying an additional 72,588 shares during the period. Hedge funds and other institutional investors own 59.97% of the company’s stock.
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Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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