Magna International (NYSE:MGA) Reaches New 52-Week High – Still a Buy?

by · The Markets Daily

Magna International Inc. (NYSE:MGA – Get Free Report) (TSE:MG) shares hit a new 52-week high on Wednesday . The stock traded as high as $51.41 and last traded at $51.0870, with a volume of 1151675 shares trading hands. The stock had previously closed at $49.29.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Magna International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 9th. Evercore ISI increased their target price on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. BMO Capital Markets boosted their price target on Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, TD Securities upped their price target on Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.33.

Check Out Our Latest Analysis on Magna International

Magna International Trading Up 3.6%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The company’s 50 day moving average is $47.54 and its 200 day moving average is $44.03. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 13.96 and a beta of 1.53.

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.09. The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. On average, research analysts forecast that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.94 annualized dividend and a yield of 3.8%. Magna International’s dividend payout ratio is 53.01%.

Institutional Investors Weigh In On Magna International

Several large investors have recently made changes to their positions in MGA. Achmea Investment Management B.V. acquired a new stake in shares of Magna International in the third quarter valued at $8,606,000. Danske Bank A S acquired a new position in Magna International during the 3rd quarter worth about $112,000. Public Employees Retirement System of Ohio grew its holdings in Magna International by 196.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock worth $6,620,000 after acquiring an additional 92,613 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Magna International by 1.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after acquiring an additional 246 shares in the last quarter. Finally, Community Bank N.A. bought a new position in shares of Magna International in the third quarter worth about $29,000. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

(Get Free Report)

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

Featured Articles