Magna International (NYSE:MGA) Price Target Cut to $31.00 by Analysts at The Goldman Sachs Group

Magna International (NYSE:MGA) (TSE:MG) had its price objective trimmed by The Goldman Sachs Group from $38.00 to $31.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a sell rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group decreased their target price on shares of Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. CIBC lowered their target price on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Evercore ISI cut their price target on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. Finally, Bank of America cut Magna International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Magna International presently has an average rating of “Hold” and an average price target of $44.91.

Magna International Trading Up 0.2 %

Shares of MGA stock opened at $32.21 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.63 and a beta of 1.56. Magna International has a 1 year low of $30.39 and a 1 year high of $50.75. The firm has a fifty day moving average price of $36.25 and a 200-day moving average price of $40.19.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. Magna International’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts predict that Magna International will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.485 dividend. The ex-dividend date was 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 6.02%. Magna International’s payout ratio is 55.27%.

Institutional Investors Weigh In On Magna International

Institutional investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. increased its position in shares of Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Magna International by 37.2% during the fourth 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 last quarter. Lindbrook Capital LLC raised its stake in shares of Magna International by 43.1% in the fourth 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 lifted 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 worth $26,000 after acquiring an additional 600 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after purchasing an additional 723 shares during the period. 67.49% of the stock is owned by 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.