Magna International (NYSE:MGA) Earns Hold Rating from Evercore ISI

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Evercore ISI reaffirmed their hold rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a research note published on Sunday, AnalystRatings.com reports. Evercore ISI currently has a $52.00 price target on the stock.

“We reiterate our MGA PT) based on a reduced secular story (ADAS L2.5+ execution worrying; Electrification/Powertrain continuing to be a 4 letter word globally for suppliers), but highlight that MGA’s historical PE trading range of 6.0-8.5x fwd would argue the stock now sits right below the middle of its trading range and hedge funds may cover shorts and move on to the next supplier with wobbly guidance outlook.”,” the firm’s analyst commented.

Several other equities research analysts also recently commented on the company. Veritas Investment Research upgraded Magna International from a sell rating to a buy rating in a report on Wednesday, June 19th. Barclays reiterated a hold rating and issued a $51.00 price objective on shares of Magna International in a report on Thursday, July 18th. Wolfe Research downgraded Magna International from an outperform rating to a peer perform rating in a research note on Wednesday, May 1st. TD Securities boosted their price target on Magna International from $55.00 to $57.00 and gave the company a hold rating in a research note on Friday, August 9th. Finally, Seaport Global Securities initiated coverage on Magna International in a research note on Tuesday, April 16th. They set a buy rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $57.56.

NYSE MGA opened at $47.36 on Friday. Magna International has a one year low of $42.51 and a one year high of $57.85. The stock has a 50-day simple moving average of $48.73. The company has a market cap of $15.64 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.33 and a beta of 1.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.87.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.54 by $0.05. Magna International had a return on equity of 18.35% and a net margin of 6.35%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.91 billion. During the same period last year, the company earned $1.67 EPS. Magna International’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Magna International will post 6.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.365 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.08%. Magna International’s dividend payout ratio is currently 21.76%.

Several institutional investors have recently added to or reduced their stakes in MGA. Squar Milner Financial Services LLC grew its stake in shares of Magna International by 5.7% during the 1st quarter. Squar Milner Financial Services LLC now owns 3,504 shares of the company’s stock valued at $170,000 after acquiring an additional 188 shares during the period. Greenleaf Trust grew its stake in shares of Magna International by 3.2% during the 1st quarter. Greenleaf Trust now owns 6,917 shares of the company’s stock valued at $337,000 after acquiring an additional 212 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Magna International by 25.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock valued at $54,000 after acquiring an additional 226 shares during the period. Tocqueville Asset Management L.P. grew its stake in shares of Magna International by 4.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 5,665 shares of the company’s stock valued at $282,000 after acquiring an additional 252 shares during the period. Finally, CLARET ASSET MANAGEMENT Corp grew its stake in shares of Magna International by 3.4% during the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 8,862 shares of the company’s stock valued at $431,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 58.31% of the company’s stock.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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