Magna International (NYSE:MGA) Hits New 12-Month Low – Should You Sell?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $33.28 and last traded at $33.96, with a volume of 110337 shares trading hands. The stock had previously closed at $34.00.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MGA shares. CIBC lowered their price target on Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Barclays lowered their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Raymond James cut their price target on Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, February 18th. Bank of America lowered shares of Magna International from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $48.00 in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.03.

Magna International Trading Up 0.6 %

The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.63 and a beta of 1.65. The business has a fifty day moving average of $37.77 and a two-hundred day moving average of $40.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08.

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

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.485 per share. This is an increase from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 5.68%. The ex-dividend date was Friday, February 28th. Magna International’s dividend payout ratio (DPR) is 55.27%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC raised its position in shares of Magna International by 2,400.0% during 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. LRI Investments LLC increased its position in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Magna International in the fourth quarter valued at $33,000. Lindbrook Capital LLC boosted its stake in shares of Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after acquiring an additional 312 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares in the last quarter. 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.