Research Analysts’ Recent Ratings Changes for Magna International (MGA)

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Several brokerages have updated their recommendations and price targets on shares of Magna International (NYSE: MGA) in the last few weeks:

  • 8/13/2018 – Magna International had its price target lowered by analysts at Morgan Stanley from $53.00 to $48.00. They now have a “sell” rating on the stock.
  • 8/9/2018 – Magna International had its price target lowered by analysts at Royal Bank of Canada from $76.00 to $74.00. They now have an “outperform” rating on the stock.
  • 8/9/2018 – Magna International had its price target lowered by analysts at TD Securities from $69.00 to $63.00. They now have a “hold” rating on the stock.
  • 8/9/2018 – Magna International had its price target lowered by analysts at Citigroup Inc from $77.00 to $69.00. They now have a “buy” rating on the stock.
  • 8/2/2018 – Magna International was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/19/2018 – Magna International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Magna International is expanding business through collaborations, acquisition and is also concentrating on product innovation for strong growth. In June, the company announced its decision to acquire OLSA, which will aid Magna to expand lighting capabilities and diverse product portfolio. Its partnership with May Mobility will help Magna to retrofit and scale up fleet of autonomous shuttles set. Earlier in April, it announced collaboration with BAIC Group to co-develop next-generation electric-vehicle architecture, specifically for the Chinese market. Magna also undertakes regular capital deployment in order to enhance shareholder value. Moreover, in the last six months, shares of the company have outperformed the industry it belongs to.”

NYSE:MGA opened at $54.61 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $18.39 billion, a PE ratio of 9.16, a PEG ratio of 0.90 and a beta of 1.38. Magna International Inc. has a 1-year low of $45.90 and a 1-year high of $67.47.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07). The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.45 billion. Magna International had a net margin of 5.72% and a return on equity of 19.72%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. research analysts anticipate that Magna International Inc. will post 6.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, August 30th. This is a positive change from Magna International’s previous quarterly dividend of $0.26. Magna International’s payout ratio is currently 22.15%.

Large investors have recently bought and sold shares of the company. Horizon Investment Services LLC grew its holdings in Magna International by 69.1% in the first quarter. Horizon Investment Services LLC now owns 78,334 shares of the company’s stock valued at $4,414,000 after purchasing an additional 32,004 shares during the period. Sentry Investments Corp. grew its holdings in Magna International by 7.0% in the first quarter. Sentry Investments Corp. now owns 2,554,300 shares of the company’s stock valued at $185,366,000 after purchasing an additional 166,400 shares during the period. Teza Capital Management LLC purchased a new stake in Magna International in the first quarter valued at approximately $403,000. Private Advisor Group LLC purchased a new stake in Magna International in the first quarter valued at approximately $599,000. Finally, Manning & Napier Group LLC grew its holdings in Magna International by 4.8% in the first quarter. Manning & Napier Group LLC now owns 51,284 shares of the company’s stock valued at $2,889,000 after purchasing an additional 2,358 shares during the period. 61.01% of the stock is owned by institutional investors and hedge funds.

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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