Magna International (NYSE:MGA) PT Lowered to $49.00 at Wells Fargo & Company

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by Wells Fargo & Company from $52.00 to $49.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently issued reports on MGA. Barclays decreased their target price on shares of Magna International from $63.00 to $62.00 and set an equal weight rating for the company in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $69.00 to $71.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Citigroup decreased their target price on shares of Magna International from $60.00 to $57.00 and set a neutral rating for the company in a research note on Monday, February 12th. Raymond James decreased their target price on shares of Magna International from $62.00 to $60.00 and set a market perform rating for the company in a research note on Monday, February 12th. Finally, Royal Bank of Canada cut their price target on shares of Magna International from $61.00 to $60.00 and set a sector perform rating for the company in a report on Monday, February 12th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $60.00.

Magna International Stock Performance

Shares of NYSE MGA opened at $47.08 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. Magna International has a 12 month low of $45.75 and a 12 month high of $65.27. The company has a 50 day simple moving average of $51.55 and a two-hundred day simple moving average of $53.84. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.97%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, analysts predict that Magna International will post 6.13 earnings per share for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.90 annualized dividend and a yield of 4.04%. Magna International’s payout ratio is 53.98%.

Institutional Trading of Magna International

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after buying an additional 289,105 shares during the period. Forsta AP Fonden grew its stake in shares of Magna International by 20.4% in the 1st quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock valued at $3,533,000 after buying an additional 11,000 shares during the period. SG Americas Securities LLC grew its stake in shares of Magna International by 22.2% in the 1st quarter. SG Americas Securities LLC now owns 36,170 shares of the company’s stock valued at $1,971,000 after buying an additional 6,581 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Magna International in the 1st quarter valued at approximately $1,009,000. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of Magna International by 3.2% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 73,662 shares of the company’s stock valued at $4,014,000 after buying an additional 2,304 shares during the period. 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.