Magna International Inc. (NYSE:MGA) Short Interest Update

Magna International Inc. (NYSE:MGA) (TSE:MG) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 9,460,000 shares, a growth of 57.4% from the January 31st total of 6,010,000 shares. Based on an average daily volume of 1,660,000 shares, the days-to-cover ratio is presently 5.7 days. Currently, 3.5% of the company’s stock are sold short.

Magna International Price Performance

NYSE MGA traded down $1.14 during trading hours on Tuesday, reaching $34.20. 2,593,673 shares of the company’s stock were exchanged, compared to its average volume of 1,643,453. The stock has a market cap of $9.65 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 0.63 and a beta of 1.61. Magna International has a one year low of $33.31 and a one year high of $56.12. The firm has a fifty day moving average of $39.82 and a 200-day moving average of $41.50. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating 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 firm had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same period last year, the company earned $1.33 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The company also recently declared 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. This is an increase from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 5.67%. Magna International’s dividend payout ratio (DPR) is currently 55.27%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MGA. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Scotiabank decreased their price target on Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada decreased their price target on Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. UBS Group decreased their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley decreased their price target on Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday. One equities 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. According to MarketBeat, Magna International has an average rating of “Hold” and an average target price of $47.88.

Institutional Trading of Magna International

Several hedge funds and other institutional investors have recently modified their holdings of MGA. Avior Wealth Management LLC raised its stake 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 valued at $26,000 after purchasing an additional 600 shares during the period. Kennebec Savings Bank bought a new stake in shares of Magna International during the third quarter worth approximately $32,000. LRI Investments LLC boosted its holdings 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 worth $32,000 after acquiring an additional 723 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Magna International during the fourth quarter worth approximately $33,000. Finally, Lindbrook Capital LLC boosted its holdings 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 worth $43,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds 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.