Magna International (NYSE:MGA) Sees Strong Trading Volume – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG) saw strong trading volume on Wednesday . 4,661,910 shares traded hands during trading, an increase of 183% from the previous session’s volume of 1,646,984 shares.The stock last traded at $38.15 and had previously closed at $38.21.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Scotiabank cut their target price on Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Barclays dropped their target price on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their target price on Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Magna International presently has a consensus rating of “Hold” and an average price target of $48.88.

Magna International Stock Performance

The firm has a market capitalization of $10.71 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 0.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a 50-day moving average of $40.23 and a 200 day moving average of $41.57.

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

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio (DPR) is currently 55.27%.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC boosted its position in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares in the last quarter. Kennebec Savings Bank bought a new position in Magna International in the third quarter worth approximately $32,000. LRI Investments LLC boosted its position in shares of Magna International by 2,126.5% during 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 last quarter. Millstone Evans Group LLC purchased a new position in Magna International in the fourth quarter worth $33,000. Finally, Lindbrook Capital LLC increased its position in Magna International by 43.1% in the fourth 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 last quarter. 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.