Scotiabank Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective decreased by Scotiabank from $45.00 to $38.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 14.94% from the stock's previous close.

MGA has been the topic of a number of other reports. Barclays decreased their target price on Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. TD Securities decreased their price objective on shares of Magna International from $47.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. UBS Group lowered 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, April 10th. The Goldman Sachs Group cut their price target on shares of Magna International from $38.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Finally, Bank of America cut shares of Magna International from a "buy" rating to a "neutral" rating and lowered their price objective for the company 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, fifteen have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $43.74.

Magna International Price Performance

MGA traded down $1.95 during trading on Tuesday, reaching $33.06. 4,580,610 shares of the company were exchanged, compared to its average volume of 1,773,955. Magna International has a 12-month low of $30.39 and a 12-month high of $48.18. The company's 50-day moving average is $34.69 and its two-hundred day moving average is $39.34. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.63 and a beta of 1.52.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). The firm 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 company's quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 earnings per share. Research analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

Large investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. boosted its holdings in shares of Magna International by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after purchasing an additional 276 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after purchasing an additional 301 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after buying an additional 312 shares during the period. Cromwell Holdings LLC grew its position in shares of Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock worth $28,000 after buying an additional 466 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after buying an additional 600 shares during the period. Institutional investors own 67.49% of the company's stock.

Magna International Company Profile

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.