Raymond James Lowers Magna International (NYSE:MGA) Price Target to $50.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by Raymond James from $53.00 to $50.00 in a report released on Tuesday morning,Benzinga reports. Raymond James currently has a market perform rating on the stock.

A number of other brokerages have also recently weighed in on MGA. Scotiabank reduced their target price on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday. Evercore ISI decreased their price objective on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday. Barclays decreased their price objective on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday. TD Securities decreased their price objective on shares of Magna International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Magna International presently has an average rating of “Hold” and an average target price of $48.88.

Magna International Trading Up 0.5 %

Magna International stock opened at $38.06 on Tuesday. The stock has a market capitalization of $10.77 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. Magna International has a 12-month low of $35.05 and a 12-month high of $56.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $40.99 and a 200-day simple moving average of $41.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. The firm had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. As a group, equities research analysts expect that Magna International will post 5.23 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.10%. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio (DPR) is currently 50.80%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Systematic Financial Management LP grew its stake in Magna International by 19.9% in the 4th quarter. Systematic Financial Management LP now owns 48,845 shares of the company’s stock valued at $2,041,000 after buying an additional 8,100 shares during the last quarter. LRI Investments LLC grew its stake in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after buying an additional 723 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Magna International by 9.0% in the 4th quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company’s stock valued at $2,010,000 after buying an additional 3,956 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after buying an additional 822,375 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Magna International by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after buying an additional 371,437 shares during the last quarter. 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.