Magna International (NYSE:MGA) PT Lowered to $60.00

Magna International (NYSE:MGAFree Report) (TSE:MG) had its target price cut by Raymond James from $62.00 to $60.00 in a research report released on Monday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

A number of other equities analysts also recently weighed in on MGA. UBS Group upped their target price on Magna International from $59.00 to $60.00 and gave the company a neutral rating in a report on Wednesday, January 17th. Royal Bank of Canada dropped their target price on Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Monday. Citigroup dropped their target price on Magna International from $60.00 to $57.00 and set a neutral rating on the stock in a report on Monday. Wells Fargo & Company upped their target price on Magna International from $59.00 to $60.00 and gave the company an equal weight rating in a report on Monday, November 6th. Finally, TD Securities dropped their target price on Magna International from $73.00 to $69.00 and set a buy rating on the stock in a report on Monday. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $64.00.

Check Out Our Latest Stock Analysis on Magna International

Magna International Price Performance

NYSE MGA opened at $55.64 on Monday. The stock’s 50-day moving average price is $56.68 and its two-hundred day moving average price is $55.68. The company has a current ratio of 1.11, a quick ratio of 0.75 and a debt-to-equity ratio of 0.35. The company has a market cap of $15.96 billion, a PE ratio of 13.18, a PEG 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.

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

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 23rd will be issued a $0.475 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $1.90 dividend on an annualized basis 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 is currently 45.02%.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently added to or reduced their stakes in the company. Azimuth Capital Investment Management LLC boosted its position in Magna International by 29.6% during the second quarter. Azimuth Capital Investment Management LLC now owns 134,322 shares of the company’s stock worth $7,581,000 after purchasing an additional 30,667 shares during the period. SG Americas Securities LLC boosted its position in Magna International by 15.3% during the third quarter. SG Americas Securities LLC now owns 33,392 shares of the company’s stock worth $1,885,000 after purchasing an additional 4,428 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Magna International by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock worth $50,921,000 after purchasing an additional 147,950 shares during the period. Janney Montgomery Scott LLC boosted its position in Magna International by 1.2% during the third quarter. Janney Montgomery Scott LLC now owns 144,583 shares of the company’s stock worth $7,751,000 after purchasing an additional 1,737 shares during the period. Finally, Geode Capital Management LLC boosted its position in Magna International by 5.7% during the second quarter. Geode Capital Management LLC now owns 956,958 shares of the company’s stock worth $54,277,000 after purchasing an additional 51,286 shares during the period. Institutional investors and hedge funds own 62.21% of the company’s stock.

About Magna International

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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.

Further Reading

Analyst Recommendations for Magna International (NYSE:MGA)

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