Scotiabank Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price objective trimmed by Scotiabank from $49.00 to $45.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages also recently issued reports on MGA. Royal Bank of Canada upgraded Magna International from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $52.00 in a research report on Friday, January 24th. Evercore ISI reduced their price target on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. CIBC increased their price target on Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Finally, Barclays reduced their price target on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.88.

Magna International Trading Up 0.5 %

Shares of MGA stock opened at $38.06 on Tuesday. Magna International has a 1 year low of $35.05 and a 1 year high of $56.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $40.99 and its two-hundred day simple moving average is $41.61. The company has a market cap of $10.77 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.32 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts predict that Magna International will post 5.23 earnings per share for the current year.

Magna International Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. increased its holdings in shares of Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after acquiring an additional 276 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after acquiring an additional 301 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after acquiring an additional 312 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after acquiring an additional 600 shares during the period. Finally, LRI Investments LLC increased its holdings in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after acquiring an additional 723 shares during the period. 67.49% of the stock is currently 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.