Evercore ISI Cuts Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its price target reduced by Evercore ISI from $50.00 to $45.00 in a research report released on Tuesday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other research firms have also recently commented on MGA. StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group lowered shares of Magna International from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Barclays lowered their target price on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Scotiabank dropped their target price on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a research report on Monday, January 27th. Finally, UBS Group cut their target price on Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $48.88.

Magna International Stock Up 0.5 %

Shares of NYSE MGA opened at $38.06 on Tuesday. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.60 and a beta of 1.61. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average is $40.99 and its 200 day moving average is $41.61. Magna International has a 52 week low of $35.05 and a 52 week high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter last year, the business posted $1.33 EPS. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Magna International will post 5.23 earnings per share for the current year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.485 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 5.10%. Magna International’s dividend payout ratio (DPR) is 50.80%.

Institutional Investors Weigh In On Magna International

A number of large investors have recently made changes to their positions in MGA. ARGA Investment Management LP boosted its position in Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock valued at $107,049,000 after buying an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after purchasing an additional 822,375 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Magna International by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after purchasing an additional 371,437 shares during the period. Mufg Securities Canada LTD. boosted its holdings in Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after buying an additional 172,754 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after purchasing an additional 84,322 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.