Magna International Inc. (NYSE:MGA) Short Interest Update

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 8,450,000 shares, a drop of 46.8% from the May 15th total of 15,870,000 shares. Currently, 3.2% of the company's stock are short sold. Based on an average daily volume of 2,090,000 shares, the days-to-cover ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James dropped their price objective on Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 18th. Barclays reduced their target price on Magna International from $47.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, April 15th. TD Securities lifted their target price on Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a report on Monday, May 5th. Veritas raised Magna International to a "hold" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada cut their price objective on Magna International from $32.00 to $31.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. One 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, the company currently has a consensus rating of "Hold" and an average price target of $41.38.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. boosted its holdings in 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 acquiring an additional 276 shares during the period. Lindbrook Capital LLC boosted its holdings in Magna International by 43.1% during 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. Cromwell Holdings LLC boosted its holdings in Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after acquiring an additional 466 shares during the period. LRI Investments LLC boosted its holdings in Magna International by 2,126.5% during 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. Finally, Versant Capital Management Inc purchased a new position in Magna International during the 1st quarter valued at $27,000. Institutional investors own 67.49% of the company's stock.

Magna International Stock Performance

Shares of NYSE MGA traded up $0.50 during trading on Monday, hitting $37.82. The company had a trading volume of 1,629,020 shares, compared to its average volume of 1,735,237. The stock has a 50 day simple moving average of $35.08 and a 200 day simple moving average of $37.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. Magna International has a 12 month low of $30.39 and a 12 month high of $47.22. The firm has a market capitalization of $10.66 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. As a group, analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.13%. The ex-dividend date was Friday, May 16th. Magna International's dividend payout ratio (DPR) is presently 48.50%.

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.