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 target trimmed by BMO Capital Markets from $47.00 to $41.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on the company. Royal Bank of Canada cut Magna International from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $51.00 to $32.00 in a research report on Friday, April 11th. Bank of America downgraded shares of Magna International from a "buy" rating to a "neutral" rating and lowered their target price for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th. Morgan Stanley decreased their price target on shares of Magna International from $43.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Barclays lowered their price target on Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. Finally, UBS Group reduced their price objective on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.13.

Magna International Stock Up 0.9 %

MGA traded up $0.30 during midday trading on Monday, reaching $34.82. 818,877 shares of the company were exchanged, compared to its average volume of 1,772,079. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. 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 one year low of $30.39 and a one year high of $48.18. The company's fifty day moving average price is $34.45 and its 200 day moving average price is $39.09.

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

Magna International Announces Dividend

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

Institutional Trading of Magna International

Several hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC lifted its stake in shares of Magna International by 2,400.0% in the fourth 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. LRI Investments LLC increased its stake in 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 purchasing an additional 723 shares in the last quarter. Versant Capital Management Inc acquired a new position in Magna International during the first quarter worth $27,000. Millstone Evans Group LLC purchased a new stake in Magna International during the fourth quarter worth $33,000. Finally, Cromwell Holdings LLC grew its holdings in Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after purchasing an additional 466 shares during the last quarter. Institutional investors and hedge funds 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.