Evercore ISI Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price target trimmed by Evercore ISI from $50.00 to $45.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an in-line rating on the stock.

Other analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company reduced their target price on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. TD Securities dropped their price target on Magna International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Monday, January 27th. The Goldman Sachs Group lowered Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Magna International presently has an average rating of “Hold” and an average target price of $48.88.

Magna International Price Performance

Magna International stock opened at $38.72 on Tuesday. The business has a 50 day simple moving average of $40.57 and a 200 day simple moving average of $41.55. 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 capitalization of $10.92 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. Magna International has a one year low of $35.05 and a one year high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.71% and a net margin of 2.36%. The company had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. During the same period last year, the business earned $1.33 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Magna International will post 6.04 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.485 dividend. 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. This represents a $1.94 dividend on an annualized basis and a yield of 5.01%. Magna International’s dividend payout ratio (DPR) is presently 55.27%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC boosted its position in shares of 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 purchasing an additional 600 shares during the last quarter. Kennebec Savings Bank bought a new stake in Magna International in the third quarter valued at about $32,000. LRI Investments LLC lifted its stake in Magna International by 2,126.5% in the fourth 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 period. Millstone Evans Group LLC bought a new position in Magna International during the fourth quarter worth about $33,000. Finally, Lindbrook Capital LLC grew its position in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after buying an additional 312 shares during the period. Institutional investors own 67.49% of the company’s stock.

About Magna International

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.