Magna International Inc. (NYSE:MGA) (TSE:MG) had its target price lifted by Royal Bank of Canada from $57.00 to $60.00 in a report issued on Friday morning. The brokerage currently has an outperform rating on the stock.
MGA has been the topic of several other reports. Zacks Investment Research cut shares of Magna International from a hold rating to a sell rating in a research note on Friday, April 28th. TD Securities cut shares of Magna International from a buy rating to a hold rating and boosted their price objective for the company from $47.00 to $50.00 in a research note on Friday, January 13th. Finally, Macquarie raised shares of Magna International from a neutral rating to an outperform rating in a research note on Monday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Magna International has a consensus rating of Hold and an average price target of $49.39.
Shares of Magna International (NYSE:MGA) opened at 44.18 on Friday. The stock has a market cap of $16.89 billion, a PE 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. The stock has a 50 day moving average of $41.83 and a 200 day moving average of $42.76.
Magna International (NYSE:MGA) last announced its quarterly earnings data on Thursday, May 11th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.19. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.13 billion. Magna International had a net margin of 5.67% and a return on equity of 20.72%. Magna International’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. On average, equities analysts anticipate that Magna International will post $5.76 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. Magna International’s payout ratio is 19.65%.
A number of large investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. acquired a new stake in shares of Magna International during the fourth quarter worth approximately $121,000. IFP Advisors Inc boosted its stake in shares of Magna International by 3.8% in the first quarter. IFP Advisors Inc now owns 3,357 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Magna International during the first quarter worth approximately $157,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Magna International during the first quarter worth approximately $173,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Magna International during the third quarter worth approximately $204,000. 59.75% of the stock is currently owned by hedge funds and other institutional investors.
About Magna International
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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