Magna International (NYSE:MGA) PT Raised to $71.00 at JPMorgan Chase & Co.

Magna International (NYSE:MGA) (TSE:MG) had its price target increased by JPMorgan Chase & Co. from $69.00 to $71.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. BMO Capital Markets reduced their price target on shares of Magna International from $67.00 to $65.00 and set an outperform rating for the company in a research report on Monday, February 12th. Scotiabank reduced their price target on shares of Magna International from $62.00 to $59.00 and set a sector perform rating for the company in a research report on Monday, February 12th. TD Securities reduced their price target on shares of Magna International from $73.00 to $69.00 and set a buy rating for the company in a research report on Monday, February 12th. The Goldman Sachs Group lowered shares of Magna International from a buy rating to a neutral rating and reduced their price target for the company from $73.00 to $58.00 in a research report on Wednesday, January 3rd. Finally, CIBC reduced their price target on shares of Magna International from $61.00 to $59.00 and set a neutral rating for the company in a research report on Friday, April 19th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $62.50.

Magna International Stock Performance

Shares of Magna International stock opened at $48.69 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.49 and a beta of 1.69. The firm’s 50-day moving average is $52.91 and its 200 day moving average is $54.18. Magna International has a 1 year low of $46.71 and a 1 year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. Magna International’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. Sell-side analysts anticipate that Magna International will post 6.13 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s dividend payout ratio (DPR) is 45.02%.

Institutional Investors Weigh In On Magna International

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its position in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Magna International during the 1st quarter valued at approximately $49,000. S.A. Mason LLC boosted its position in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.