Magna International (NYSE:MGA) Price Target Raised to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its target price raised by UBS Group from $44.00 to $45.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

MGA has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price objective on Magna International from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Evercore ISI lowered their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Raymond James dropped their target price on shares of 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. Evercore dropped their price target on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Finally, CIBC cut their price objective on shares of Magna International from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Magna International currently has an average rating of “Hold” and a consensus target price of $49.76.

Magna International Stock Performance

Shares of MGA stock opened at $43.16 on Monday. 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 company has a market cap of $12.40 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.68 and a beta of 1.59. Magna International has a one year low of $38.01 and a one year high of $60.32. The firm has a 50-day moving average of $41.37 and a 200-day moving average of $43.02.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. Equities research analysts forecast that Magna International will post 5.3 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio is currently 50.80%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Magna International during the 2nd quarter worth approximately $28,000. Kennebec Savings Bank purchased a new stake in Magna International in the third quarter worth $32,000. Grove Bank & Trust raised its holdings in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares in the last quarter. LRI Investments LLC bought a new position in Magna International in the first quarter worth $36,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after buying an additional 513 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.