Magna International (NYSE:MGA) Price Target Cut to $41.00 by Analysts at BMO Capital Markets

Magna International (NYSE:MGA - Free Report) TSE: MG had its price objective reduced by BMO Capital Markets from $47.00 to $41.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also commented on MGA. The Goldman Sachs Group cut their price objective on Magna International from $38.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Veritas upgraded shares of Magna International to a "hold" rating in a research report on Thursday, April 24th. UBS Group dropped their price objective on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Bank of America downgraded Magna International from a "buy" rating to a "neutral" rating and lowered their price target for the company from $52.00 to $48.00 in a research report on Tuesday, March 4th. Finally, Evercore ISI cut their price objective on Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.13.

Magna International Price Performance

Shares of Magna International stock traded up $0.30 on Monday, reaching $34.82. The stock had a trading volume of 818,877 shares, compared to its average volume of 1,775,017. The business's 50 day moving average is $34.44 and its two-hundred day moving average is $39.14. The company has a market cap of $9.81 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. Magna International has a 1 year low of $30.39 and a 1 year high of $48.18. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

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

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.57%. The ex-dividend date is Friday, May 16th. Magna International's dividend payout ratio (DPR) is currently 48.50%.

Hedge Funds Weigh In On Magna International

A number of hedge funds and other institutional investors have recently made changes to their positions in MGA. Avior Wealth Management LLC increased its position in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after purchasing an additional 600 shares during the period. Versant Capital Management Inc purchased a new position in shares of Magna International during the first quarter valued at about $27,000. Cromwell Holdings LLC raised its stake in 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 in the last quarter. LRI Investments LLC lifted its holdings in Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after buying an additional 723 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in Magna International during the 4th quarter valued at approximately $33,000. Institutional investors own 67.49% of the company's stock.

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.