Magna International (NYSE:MGA) PT Lowered to $49.00

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by Wells Fargo & Company from $52.00 to $49.00 in a research note issued to investors on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on MGA. BMO Capital Markets dropped their price target on Magna International from $67.00 to $65.00 and set an outperform rating for the company in a research note on Monday, February 12th. Citigroup lowered their target price on Magna International from $60.00 to $57.00 and set a neutral rating for the company in a research report on Monday, February 12th. CIBC reduced their price target on shares of Magna International from $61.00 to $59.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Barclays lowered their price objective on shares of Magna International from $63.00 to $62.00 and set an equal weight rating for the company in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $60.00.

Magna International Trading Up 1.0 %

Shares of MGA opened at $47.08 on Monday. The firm has a market cap of $13.53 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a 1 year low of $45.75 and a 1 year high of $65.27. The company has a 50 day simple moving average of $51.55 and a two-hundred day simple moving average of $53.84.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). The company had revenue of $10.97 billion for 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 business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share. On average, equities analysts expect that Magna International will post 6.13 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.04%. The ex-dividend date is Thursday, May 16th. Magna International’s dividend payout ratio is presently 53.98%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC raised its holdings in shares of Magna International by 58.2% in the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after purchasing an additional 3,609,429 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Magna International by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after buying an additional 289,105 shares during the period. Toronto Dominion Bank raised its stake in Magna International by 8.7% in the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after buying an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Magna International by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock worth $50,921,000 after buying an additional 147,950 shares during the period. Finally, QV Investors Inc. lifted its holdings in Magna International by 20.7% during the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after buying an additional 113,332 shares during the period. Institutional investors own 67.49% of the company’s stock.

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.