Magna International (NYSE:MGA - Free Report) TSE: MG had its target price upped by Wells Fargo & Company from $37.00 to $38.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.
MGA has been the topic of a number of other research reports. Wall Street Zen raised shares of Magna International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. UBS Group cut their price target on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Royal Bank Of Canada decreased 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. Scotiabank cut their target price on Magna International from $45.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Finally, BMO Capital Markets reduced their price target on Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Magna International presently has a consensus rating of "Hold" and a consensus target price of $41.44.
Check Out Our Latest Stock Analysis on MGA
Magna International Stock Performance
Shares of NYSE MGA traded up $1.38 during midday trading on Tuesday, hitting $39.99. The company's stock had a trading volume of 1,617,612 shares, compared to its average volume of 1,736,383. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 1.06. Magna International has a 1-year low of $30.39 and a 1-year high of $47.22. The firm's fifty day moving average price is $36.12 and its 200-day moving average price is $37.29. The firm has a market cap of $11.27 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.67 and a beta of 1.50.
Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a net margin of 2.73% and a return on equity of 11.96%. The company had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period last year, the company posted $1.08 earnings per share. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Magna International will post 5.87 EPS for the current fiscal 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 4.85%. The ex-dividend date of this dividend was Friday, May 16th. Magna International's dividend payout ratio is presently 48.50%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. LRI Investments LLC raised its position in shares of Magna International by 2,126.5% during the fourth 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. Versant Capital Management Inc purchased a new position in shares of Magna International in the first quarter worth approximately $27,000. Millstone Evans Group LLC acquired a new stake in Magna International during the 4th quarter valued at $33,000. Cromwell Holdings LLC boosted its position in shares of Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock worth $28,000 after buying an additional 466 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after acquiring an additional 312 shares during the period. Institutional investors own 67.49% of the company's stock.
About Magna International
(
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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.
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