Magna International (NYSE:MGA) Price Target Cut to $44.00 by Analysts at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its target price reduced by TD Securities from $47.00 to $44.00 in a research note published on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Magna International from $38.00 to $31.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. UBS Group cut their target price on Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Evercore ISI cut their target price on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research report on Tuesday, February 18th. CIBC dropped their price objective on Magna International from $44.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Veritas upgraded Magna International to a “hold” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.15.

Magna International Stock Up 0.6 %

NYSE MGA opened at $34.28 on Monday. The stock’s 50 day moving average is $35.00 and its 200 day moving average is $39.54. 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 has a 12 month low of $30.39 and a 12 month high of $49.78. The stock has a market cap of $9.66 billion, a PE ratio of 9.77, a P/E/G ratio of 0.63 and a beta of 1.56.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly 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 analysts’ expectations of $10.32 billion. During the same period in the previous year, the firm earned $1.33 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Research analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.485 dividend. This is a boost from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Friday, February 28th. Magna International’s dividend payout ratio (DPR) is currently 55.27%.

Institutional Trading of Magna International

Institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC boosted its stake in Magna International by 2,400.0% in 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 in the last quarter. LRI Investments LLC increased its holdings in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares in the last quarter. Versant Capital Management Inc purchased a new stake in Magna International in the 1st quarter worth $27,000. Millstone Evans Group LLC purchased a new stake in Magna International in the 4th quarter worth $33,000. Finally, Lindbrook Capital LLC increased its holdings in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 shares in the last quarter. 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.