Magna International (NYSE:MGA) Price Target Cut to $69.00

Magna International (NYSE:MGAFree Report) (TSE:MG) had its price objective decreased by JPMorgan Chase & Co. from $77.00 to $69.00 in a research note published on Monday, BayStreet.CA reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

MGA has been the subject of several other research reports. CIBC lowered their price target on shares of Magna International from $63.00 to $61.00 and set a neutral rating for the company in a report on Monday. BMO Capital Markets lowered their price target on shares of Magna International from $67.00 to $65.00 and set an outperform rating for the company in a report on Monday. Evercore raised their price target on shares of Magna International from $70.00 to $75.00 and gave the stock an outperform rating in a report on Tuesday, October 17th. TD Securities lowered their price target on shares of Magna International from $73.00 to $69.00 and set a buy rating for the company in a report on Monday. Finally, The Goldman Sachs Group lowered shares of Magna International from a buy rating to a neutral rating and lowered their price target for the stock from $73.00 to $58.00 in a report on Wednesday, January 3rd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $64.00.

Read Our Latest Stock Analysis on Magna International

Magna International Stock Up 1.7 %

Shares of NYSE MGA opened at $55.64 on Monday. The company has a 50 day simple moving average of $56.68 and a 200 day simple moving average of $55.68. The firm has a market cap of $15.96 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.44 and a beta of 1.71. Magna International has a 1 year low of $46.71 and a 1 year high of $65.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.75.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.33%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS. On average, research analysts forecast that Magna International will post 6.64 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 23rd will be given a $0.475 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $1.90 annualized dividend and a yield of 3.41%. This is an increase from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio (DPR) is presently 45.02%.

Institutional Trading of Magna International

Several hedge funds have recently bought and sold shares of MGA. FNY Investment Advisers LLC acquired a new stake in Magna International in the 3rd quarter valued at $26,000. Massmutual Trust Co. FSB ADV lifted its stake in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares in the last quarter. Resources Management Corp CT ADV lifted its stake in Magna International by 323.5% during the 2nd quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock valued at $48,000 after acquiring an additional 647 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Magna International by 131.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. Finally, S.A. Mason LLC lifted its stake in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares in the last quarter. Institutional investors and hedge funds own 62.21% of the company’s stock.

Magna International Company Profile

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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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