Magna International (NYSE:MGA) Upgraded at Edward Jones

Edward Jones upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a report released on Monday morning, Price Targets.com reports.

MGA has been the subject of a number of other research reports. Barclays raised shares of Magna International from an equal weight rating to an overweight rating in a report on Thursday, April 15th. Wells Fargo & Company began coverage on shares of Magna International in a report on Wednesday, March 31st. They set an equal weight rating and a $96.00 target price for the company. Credit Suisse Group lifted their target price on shares of Magna International from $115.00 to $120.00 and gave the stock an outperform rating in a report on Monday, May 10th. Zacks Investment Research lowered shares of Magna International from a strong-buy rating to a hold rating and set a $100.00 target price for the company. in a report on Friday, April 23rd. Finally, KeyCorp lifted their target price on shares of Magna International from $98.00 to $105.00 and gave the stock an overweight rating in a report on Wednesday, April 21st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Magna International has a consensus rating of Buy and an average target price of $89.47.

NYSE MGA opened at $92.93 on Monday. The firm has a market capitalization of $28.02 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 0.75 and a beta of 1.59. The business’s 50 day moving average price is $96.43. The company has a current ratio of 1.39, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Magna International has a 1-year low of $42.37 and a 1-year high of $104.28.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Thursday, May 6th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.29. The business had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.69 billion. Magna International had a net margin of 3.25% and a return on equity of 13.51%. Magna International’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Research analysts expect that Magna International will post 7.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 4th. Shareholders of record on Friday, May 21st were paid a $0.43 dividend. The ex-dividend date was Thursday, May 20th. This represents a $1.72 annualized dividend and a yield of 1.85%. Magna International’s payout ratio is currently 20.25%.

A number of hedge funds have recently modified their holdings of MGA. Wellington Shields Capital Management LLC acquired a new position in shares of Magna International during the 4th quarter worth about $212,000. Bessemer Group Inc. increased its stake in shares of Magna International by 7.7% during the 4th quarter. Bessemer Group Inc. now owns 2,067 shares of the company’s stock worth $145,000 after purchasing an additional 148 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in shares of Magna International during the 4th quarter worth about $50,000. Barometer Capital Management Inc. increased its stake in shares of Magna International by 82.5% during the 4th quarter. Barometer Capital Management Inc. now owns 137,425 shares of the company’s stock worth $12,383,000 after purchasing an additional 62,125 shares during the last quarter. Finally, Boston Private Wealth LLC increased its stake in shares of Magna International by 27.3% during the 4th quarter. Boston Private Wealth LLC now owns 18,465 shares of the company’s stock worth $1,307,000 after purchasing an additional 3,964 shares during the last quarter. Hedge funds and other institutional investors own 58.55% of the company’s stock.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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Analyst Recommendations for Magna International (NYSE:MGA)

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