Magna International Inc. (NYSE:MGA) (TSE:MG) had its target price hoisted by Scotiabank from $65.00 to $68.00 in a research report report published on Friday morning. Scotiabank currently has an outperform rating on the stock.
Other equities analysts also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of Magna International from $57.00 to $60.00 and gave the stock an outperform rating in a research note on Friday, May 12th. TD Securities raised shares of Magna International from a hold rating to a buy rating and raised their price target for the stock from $50.00 to $55.00 in a research note on Friday, May 12th. Zacks Investment Research raised shares of Magna International from a sell rating to a hold rating in a research note on Friday, January 20th. Finally, Macquarie raised shares of Magna International from a neutral rating to an outperform rating in a research note on Monday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Magna International currently has an average rating of Hold and a consensus target price of $49.39.
Magna International (NYSE:MGA) opened at 44.18 on Friday. The stock’s 50 day moving average is $41.83 and its 200 day moving average is $42.76. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 8.56 and a beta of 1.48. Magna International has a 12-month low of $32.76 and a 12-month high of $47.21.
Magna International (NYSE:MGA) last posted its quarterly earnings results on Thursday, May 11th. The company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.19. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.13 billion. Magna International had a net margin of 5.67% and a return on equity of 20.72%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Equities analysts predict that Magna International will post $5.76 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, May 24th. Magna International’s dividend payout ratio (DPR) is presently 19.65%.
A number of institutional investors have recently modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Magna International by 36.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,661 shares of the company’s stock worth $846,000 after buying an additional 5,261 shares during the period. Becker Capital Management Inc. increased its position in shares of Magna International by 46.2% in the first quarter. Becker Capital Management Inc. now owns 764,870 shares of the company’s stock worth $33,012,000 after buying an additional 241,665 shares during the period. Foresters Investment Management Company Inc. increased its position in shares of Magna International by 0.4% in the first quarter. Foresters Investment Management Company Inc. now owns 539,770 shares of the company’s stock worth $23,296,000 after buying an additional 1,900 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Magna International by 16.4% in the first quarter. SRS Capital Advisors Inc. now owns 3,239 shares of the company’s stock worth $139,000 after buying an additional 456 shares during the period. Finally, Boston Financial Mangement LLC increased its position in shares of Magna International by 1.6% in the first quarter. Boston Financial Mangement LLC now owns 85,982 shares of the company’s stock worth $3,711,000 after buying an additional 1,347 shares during the period. 59.75% of the stock is currently owned by institutional investors.
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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