Magna International Inc. (NYSE:MGA)‘s stock had its “neutral” rating restated by equities research analysts at Goldman Sachs Group Inc. in a note issued to investors on Saturday. They presently have a $43.00 price objective on the stock, down from their prior price objective of $44.00. Goldman Sachs Group Inc.’s price objective points to a potential upside of 1.82% from the stock’s current price.
A number of other research firms have also weighed in on MGA. Citigroup Inc. upped their target price on shares of Magna International from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Magna International in a report on Wednesday, August 10th. Royal Bank Of Canada upped their target price on shares of Magna International from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Zacks Investment Research raised shares of Magna International from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, August 30th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating and set a $41.50 target price on shares of Magna International in a report on Monday, July 18th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $50.32.
Magna International (NYSE:MGA) opened at 42.23 on Friday. The stock’s 50 day moving average is $40.99 and its 200-day moving average is $40.07. Magna International has a one year low of $30.41 and a one year high of $53.89. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 8.07 and a beta of 1.60.
Magna International (NYSE:MGA) last announced its quarterly earnings results on Friday, August 5th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.07. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Magna International had a net margin of 6.12% and a return on equity of 21.14%. Magna International’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. On average, equities research analysts expect that Magna International will post $5.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.00 annualized dividend and a yield of 2.37%. Magna International’s payout ratio is currently 19.16%.
A number of large investors have recently made changes to their positions in MGA. Van ECK Associates Corp boosted its stake in shares of Magna International by 27.1% in the second quarter. Van ECK Associates Corp now owns 3,763 shares of the company’s stock valued at $132,000 after buying an additional 803 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Magna International by 10.9% in the first quarter. IFP Advisors Inc now owns 4,380 shares of the company’s stock valued at $188,000 after buying an additional 431 shares during the last quarter. Park National Corp OH boosted its stake in shares of Magna International by 2.9% in the second quarter. Park National Corp OH now owns 7,827 shares of the company’s stock valued at $275,000 after buying an additional 220 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Magna International by 7.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 7,850 shares of the company’s stock valued at $275,000 after buying an additional 550 shares during the last quarter. Finally, Manitou Investment Management Ltd. purchased a new stake in shares of Magna International during the second quarter valued at $302,000. 58.98% of the stock is owned by institutional investors and hedge funds.
Magna International Company Profile
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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