Magna International (NYSE:MGA) Price Target Lowered to $62.00 at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by TD Securities from $63.00 to $62.00 in a report issued on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on MGA. Royal Bank of Canada cut their price target on shares of Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Monday, February 12th. UBS Group raised their target price on Magna International from $59.00 to $60.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective on shares of Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. The Goldman Sachs Group reduced their target price on Magna International from $56.00 to $48.00 and set a neutral rating for the company in a report on Monday. Finally, Raymond James decreased their price target on shares of Magna International from $62.00 to $60.00 and set a market perform rating on the stock in a research note on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $60.00.

Magna International Stock Performance

Shares of MGA opened at $46.85 on Monday. Magna International has a 12 month low of $45.99 and a 12 month high of $65.27. The stock has a fifty day moving average price of $51.87 and a 200-day moving average price of $53.92. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The firm has a market cap of $13.46 billion, a PE ratio of 13.23, a P/E/G ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. Equities research analysts predict that Magna International will post 6.13 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.90 annualized dividend and a dividend yield of 4.06%. Magna International’s dividend payout ratio is currently 53.98%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its position in shares of Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after acquiring an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Magna International during the 1st quarter valued at about $49,000. S.A. Mason LLC boosted its holdings in 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 period. Finally, Parallel Advisors LLC grew its position in Magna International by 50.8% in 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 in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.