Scotiabank Raises Magna International (NYSE:MGA) Price Target to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by Scotiabank from $50.00 to $52.00 in a research note published on Monday, Benzinga reports. They currently have a sector perform rating on the stock.

MGA has been the topic of several other research reports. Evercore ISI dropped their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company increased their price target on Magna International from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup decreased their price objective on Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. lowered their price objective on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays cut their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.76.

Magna International Trading Up 0.7 %

Shares of NYSE:MGA traded up $0.28 on Monday, hitting $42.42. 324,256 shares of the company’s stock were exchanged, compared to its average volume of 1,583,012. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.67 and a beta of 1.59. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The business’s 50 day simple moving average is $41.33 and its two-hundred day simple moving average is $43.07.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 12.03%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. Analysts anticipate that Magna International will post 5.4 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Investors Weigh In On Magna International

Institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of Magna International in the 1st quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International during the 2nd quarter valued at approximately $28,000. Kennebec Savings Bank purchased a new position in shares of Magna International in the third quarter worth $32,000. Grove Bank & Trust lifted its stake in shares of Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds 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.