Magna International (NYSE:MGA) Sets New 52-Week High – Should You Buy?

by · The Cerbat Gem

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MGA shares. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada raised their price target on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Evercore ISI upped their target price on Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. BMO Capital Markets upped their price objective on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, UBS Group upped their price objective on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.33.

Check Out Our Latest Stock Analysis on Magna International

Magna International Stock Performance

The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The firm has a market cap of $14.58 billion, a P/E ratio of 14.17 and a beta of 1.53. The firm has a fifty day moving average of $47.74 and a 200-day moving average of $44.24.

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last issued its earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.24 by $0.09. The firm had revenue of $10.50 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.28 earnings per share. Research analysts predict that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.7%. Magna International’s dividend payout ratio is currently 53.01%.

Institutional Investors Weigh In On Magna International

Several hedge funds have recently added to or reduced their stakes in the business. Community Bank N.A. bought a new position in Magna International during the third quarter worth about $29,000. LRI Investments LLC acquired a new position in Magna International in the 2nd quarter worth about $27,000. Farther Finance Advisors LLC boosted its position in Magna International by 385.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after buying an additional 1,136 shares during the period. Danske Bank A S bought a new stake in shares of Magna International in the third quarter worth $112,000. Finally, Parallel Advisors LLC increased its stake in shares of Magna International by 115.3% in the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after buying an additional 1,338 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

(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.

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