Magna International (NYSE:MGA) Sees Strong Trading Volume

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) saw unusually-strong trading volume on Monday . Approximately 862,001 shares were traded during trading, a decline of 16% from the previous session’s volume of 1,031,325 shares.The stock last traded at $55.35 and had previously closed at $55.02.

Several equities research analysts recently commented on MGA shares. Barclays dropped their target price on Magna International from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Zacks Investment Research cut Magna International from a “hold” rating to a “sell” rating and set a $57.00 target price on the stock. in a report on Friday, November 22nd. ValuEngine raised Magna International from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Evercore ISI reissued a “hold” rating and set a $52.00 target price on shares of Magna International in a report on Sunday, August 11th. Finally, Morgan Stanley boosted their target price on Magna International from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $55.22.

The company has a market cap of $16.96 billion, a P/E ratio of 8.25, a PEG ratio of 1.54 and a beta of 1.55. The company has a fifty day simple moving average of $54.50 and a 200-day simple moving average of $49.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.21 and a quick ratio of 0.85.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, November 8th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.03. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.32 billion. Magna International had a return on equity of 17.59% and a net margin of 4.43%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 earnings per share. On average, analysts anticipate that Magna International Inc. will post 5.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.365 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.46 annualized dividend and a dividend yield of 2.64%. Magna International’s dividend payout ratio is currently 21.76%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lingohr & Partner Asset Management GmbH increased its holdings in shares of Magna International by 1.1% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 18,011 shares of the company’s stock valued at $961,000 after buying an additional 191 shares in the last quarter. Riverhead Capital Management LLC grew its position in Magna International by 25.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock worth $54,000 after purchasing an additional 226 shares in the last quarter. Tocqueville Asset Management L.P. grew its position in Magna International by 4.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 5,665 shares of the company’s stock worth $282,000 after purchasing an additional 252 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Magna International by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 41,914 shares of the company’s stock worth $2,235,000 after purchasing an additional 568 shares in the last quarter. Finally, Usca Ria LLC purchased a new position in Magna International during the 3rd quarter worth approximately $34,000. 56.69% of the stock is currently owned by institutional investors.

About Magna International (NYSE:MGA)

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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