Magna International (NYSE:MGA) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) saw unusually-strong trading volume on Monday after JPMorgan Chase & Co. raised their price target on the stock from $69.00 to $71.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Approximately 5,392,160 shares were traded during mid-day trading, an increase of 297% from the previous session’s volume of 1,358,633 shares.The stock last traded at $48.44 and had previously closed at $48.34.

A number of other brokerages have also commented on MGA. UBS Group increased their price target on shares of Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. 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 report on Monday, February 12th. StockNews.com lowered shares of Magna International from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Royal Bank of Canada reduced their target price 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. Finally, The Goldman Sachs Group lowered shares of Magna International from a “buy” rating to a “neutral” rating and reduced their target price for the company from $73.00 to $58.00 in a report on Wednesday, January 3rd. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $62.50.

Institutional Investors Weigh In On Magna International

A number of large investors have recently added to or reduced their stakes in the company. S.A. Mason LLC grew its holdings in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the last quarter. Van ECK Associates Corp grew its holdings in Magna International by 9.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after acquiring an additional 312 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Magna International by 332.9% in 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 during the last quarter. Finally, Manning & Napier Group LLC grew its holdings in Magna International by 1.6% in the 3rd quarter. Manning & Napier Group LLC now owns 42,789 shares of the company’s stock worth $2,294,000 after acquiring an additional 654 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Stock Performance

The business’s fifty day simple moving average is $53.09 and its 200-day simple moving average is $54.25. 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 $14.30 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.49 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The company had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Magna International Inc. will post 6.11 earnings per share for the current year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.82%. This is a boost from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s dividend payout ratio (DPR) is currently 45.02%.

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.