Barclays assumed coverage on shares of Magna International (NYSE:MGA) (TSE:MG) in a research note released on Wednesday, The Fly reports. The firm issued an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Citigroup lowered their target price on Magna International from $77.00 to $69.00 and set a buy rating on the stock in a research note on Thursday, August 9th. Zacks Investment Research upgraded Magna International from a sell rating to a hold rating in a research note on Tuesday, September 11th. ValuEngine downgraded Magna International from a buy rating to a hold rating in a research note on Thursday, August 2nd. TD Securities lowered their target price on Magna International from $69.00 to $63.00 and set a hold rating on the stock in a research note on Thursday, August 9th. Finally, Royal Bank of Canada lowered their target price on Magna International from $76.00 to $74.00 and set an outperform rating on the stock in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $65.44.

Shares of MGA stock opened at $47.81 on Wednesday. Magna International has a 1-year low of $46.77 and a 1-year high of $67.47. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The firm has a market cap of $17.86 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.36.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Wednesday, August 8th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07). Magna International had a net margin of 5.72% and a return on equity of 19.72%. The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.45 billion. During the same quarter last year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities research analysts anticipate that Magna International will post 6.85 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.33 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Magna International’s previous quarterly dividend of $0.26. Magna International’s payout ratio is currently 22.15%.

Large investors have recently made changes to their positions in the business. Meadow Creek Investment Management LLC acquired a new stake in shares of Magna International in the second quarter worth about $116,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Magna International in the second quarter worth about $122,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Magna International in the second quarter worth about $140,000. Nisa Investment Advisors LLC acquired a new stake in shares of Magna International in the second quarter worth about $163,000. Finally, Colony Group LLC acquired a new stake in shares of Magna International in the second quarter worth about $267,000. 59.53% of the stock is owned by institutional investors.

About Magna International

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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Analyst Recommendations for Magna International (NYSE:MGA)

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