Magna International (NYSE:MGA) Downgraded by StockNews.com

StockNews.com downgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a hold rating in a report released on Tuesday morning.

Other equities research analysts have also recently issued reports about the company. TD Securities decreased their price target on Magna International from $73.00 to $69.00 and set a buy rating on the stock in a research report on Monday, February 12th. CIBC decreased their price target on Magna International from $63.00 to $61.00 and set a neutral rating on the stock in a research report on Monday, February 12th. Wells Fargo & Company decreased their price objective on shares of Magna International from $60.00 to $54.00 and set an equal weight rating on the stock in a research report on Monday, February 12th. Scotiabank decreased their price objective on shares of Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Finally, Royal Bank of Canada decreased their price objective on shares of Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $62.93.

Magna International Price Performance

NYSE MGA opened at $47.86 on Tuesday. The firm’s 50-day simple moving average is $53.35 and its two-hundred day simple moving average is $54.27. Magna International has a 52 week low of $46.71 and a 52 week high of $65.27. The company has a market cap of $13.75 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.48 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The company had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts predict that Magna International will post 6.11 earnings per share for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.90 annualized dividend and a yield of 3.97%. This is a positive change from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio is currently 45.02%.

Institutional Trading of Magna International

Institutional investors have recently made changes to their positions in the stock. Natixis Advisors L.P. boosted its stake in shares of Magna International by 243.3% during the third quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock valued at $2,724,000 after purchasing an additional 36,005 shares during the period. Toronto Dominion Bank boosted its stake in shares of Magna International by 8.7% during the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after purchasing an additional 157,808 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Magna International by 58.2% during the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after purchasing an additional 3,609,429 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Magna International during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.