Magna International, Inc. (NYSE:MGA) (TSE:MG) had its price target hoisted by Royal Bank Of Canada from $57.00 to $60.00 in a research report report published on Friday, May 12th. Royal Bank Of Canada currently has an outperform rating on the stock.
MGA has been the subject of a number of other reports. TD Securities lowered Magna International from a buy rating to a hold rating and increased their price target for the company from $47.00 to $50.00 in a research note on Friday, January 13th. Macquarie raised Magna International from a neutral rating to an outperform rating in a research note on Monday, February 27th. Finally, Zacks Investment Research raised Magna International from a sell rating to a hold rating in a research note on Friday, January 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $50.05.
Magna International (NYSE MGA) traded down 3.87% during midday trading on Friday, hitting $43.46. The stock had a trading volume of 2,682,152 shares. The stock has a market cap of $16.53 billion, a P/E ratio of 7.95 and a beta of 1.39. The company has a 50-day moving average price of $44.47 and a 200-day moving average price of $43.56. Magna International has a 52 week low of $32.76 and a 52 week high of $47.21.
Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Thursday, May 11th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.19. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.13 billion. Magna International had a return on equity of 20.58% and a net margin of 5.76%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share. Equities analysts expect that Magna International will post $5.78 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. Magna International’s dividend payout ratio (DPR) is presently 20.11%.
Large investors have recently modified their holdings of the stock. IFP Advisors Inc increased 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 period. World Asset Management Inc increased its stake in shares of Magna International by 0.8% in the first quarter. World Asset Management Inc now owns 24,337 shares of the company’s stock worth $1,050,000 after buying an additional 185 shares during the period. Van ECK Associates Corp increased its stake in shares of Magna International by 4.4% in the fourth quarter. Van ECK Associates Corp now owns 5,301 shares of the company’s stock worth $230,000 after buying an additional 222 shares during the period. SRS Capital Advisors Inc. increased its stake 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, First Mercantile Trust Co. increased its stake in shares of Magna International by 3.5% in the first quarter. First Mercantile Trust Co. now owns 15,525 shares of the company’s stock worth $670,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 61.30% of the company’s stock.
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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