Magna International (NYSE:MGA) Price Target Raised to $46.00

Magna International (NYSE:MGA) (TSE:MG) had its target price increased by Wells Fargo & Company from $44.00 to $46.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also issued reports about the company. UBS Group reduced their price target on Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Scotiabank decreased their target price on shares of Magna International from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. Citigroup cut their price target on shares of Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group decreased their price objective on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Evercore decreased their price target on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. 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’s stock. Based on data from MarketBeat.com, Magna International presently has a consensus rating of “Hold” and an average target price of $49.76.

Magna International Trading Down 1.1 %

Shares of MGA opened at $42.13 on Monday. 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 firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.68 and a beta of 1.59. The company has a 50-day moving average of $41.34 and a 200 day moving average of $43.02. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts expect that Magna International will post 5.3 EPS for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Friday, November 15th. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Trading of Magna International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd grew its position in shares of Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after acquiring an additional 395,745 shares during the period. Toronto Dominion Bank lifted its position in shares of Magna International by 1.9% during the 2nd quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock valued at $67,426,000 after buying an additional 30,361 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after acquiring an additional 289,105 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Magna International by 11.4% during the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after purchasing an additional 21,532 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Magna International by 135.5% during the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after purchasing an additional 93,637 shares in 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.