Magna International (NYSE:MGA) Price Target Lowered to $41.00 at The Goldman Sachs Group

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by The Goldman Sachs Group from $44.00 to $41.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. CIBC cut their price objective on Magna International from $50.00 to $47.00 and set a neutral rating for the company in a research report on Tuesday, August 6th. BNP Paribas upgraded Magna International from a neutral rating to an outperform rating in a research report on Monday, July 1st. Barclays cut their price objective on Magna International from $55.00 to $50.00 and set an equal weight rating for the company in a research report on Tuesday, August 6th. Raymond James dropped their price target on Magna International from $57.00 to $53.00 and set a market perform rating for the company in a research report on Tuesday, August 6th. Finally, Bank of America dropped their price target on Magna International from $65.00 to $62.00 and set a buy rating for the company in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $49.94.

Magna International Price Performance

MGA stock opened at $41.09 on Tuesday. The company has a market capitalization of $11.81 billion, a P/E ratio of 11.67, a PEG ratio of 0.65 and a beta of 1.59. Magna International has a twelve month low of $38.01 and a twelve month high of $60.32. The business has a 50 day simple moving average of $41.00 and a 200-day simple moving average of $44.75. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the company earned $1.50 EPS. Magna International’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts anticipate that Magna International will post 5.5 EPS for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Friday, August 16th. Magna International’s payout ratio is 53.98%.

Institutional Trading of Magna International

A number of hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in Magna International by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after buying an additional 319 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Magna International by 13.0% in the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after purchasing an additional 350 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Magna International in the 1st quarter worth about $36,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.