Magna International (NYSE:MGA) Price Target Cut to $40.00 by Analysts at Morgan Stanley

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by Morgan Stanley from $43.00 to $40.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently weighed in on MGA. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Evercore ISI cut their target price 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, February 18th. Royal Bank of Canada lowered their price target on Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, February 18th. UBS Group lowered their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Magna International has a consensus rating of “Hold” and a consensus target price of $47.03.

Magna International Trading Up 8.0 %

NYSE:MGA opened at $36.86 on Monday. The stock has a fifty day simple moving average of $39.66 and a 200-day simple moving average of $41.45. Magna International has a 52-week low of $33.30 and a 52-week high of $56.12. The company has a market capitalization of $10.40 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is currently 55.27%.

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently bought and sold shares of MGA. Avior Wealth Management LLC boosted its holdings in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Kennebec Savings Bank purchased a new position in Magna International in the 3rd quarter worth approximately $32,000. LRI Investments LLC boosted its holdings in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after acquiring an additional 723 shares during the period. Millstone Evans Group LLC purchased a new position in Magna International in the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC boosted its holdings in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 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.