Magna International (NYSE:MGA) Price Target Raised to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its target price upped by UBS Group from $44.00 to $45.00 in a research report released on Monday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research analysts have also commented on MGA. CIBC cut their price objective on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Citigroup dropped their target price on Magna International from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. BMO Capital Markets dropped their target price on Magna International from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Raymond James dropped their target price on Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 6th. Finally, Morgan Stanley lowered Magna International from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $43.00 in a research report on Wednesday, September 25th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.76.

Magna International Stock Performance

NYSE MGA opened at $42.13 on Monday. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The company has a market capitalization of $12.11 billion, a P/E ratio of 11.26, a PEG ratio of 0.68 and a beta of 1.59. The business has a 50 day moving average price of $41.34 and a 200 day moving average price of $43.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share 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 company had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the previous year, the business posted $1.46 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Sell-side analysts expect that Magna International will post 5.3 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.51%. Magna International’s payout ratio is currently 50.80%.

Hedge Funds Weigh In On Magna International

A number of hedge funds and other institutional investors have recently bought and sold shares of MGA. LRI Investments LLC acquired a new position in shares of Magna International during the first quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Magna International during the second quarter worth approximately $28,000. Kennebec Savings Bank acquired a new position in shares of Magna International during the third quarter worth approximately $32,000. Grove Bank & Trust boosted its position 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 boosted its position 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 worth $46,000 after buying an additional 513 shares during the period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.