Magna International (NYSE:MGA) Shares Down 3.3% After Earnings Miss

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG shares traded down 3.3% during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $33.43 and last traded at $33.86. 631,440 shares changed hands during trading, a decline of 64% from the average session volume of 1,774,472 shares. The stock had previously closed at $35.01.

The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.11). Magna International had a return on equity of 12.78% and a net margin of 2.36%. During the same quarter in the prior year, the business earned $1.08 earnings per share. The company's revenue was down 8.2% on a year-over-year basis.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.485 per share. This is a boost from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Friday, February 28th. Magna International's dividend payout ratio (DPR) is 55.27%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Securities reduced their price target on Magna International from $47.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday. CIBC decreased their target price on shares of Magna International from $44.00 to $36.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley cut 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 for the company in a research report on Tuesday, April 15th. Finally, Raymond James cut their price objective on Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.74.

Institutional Inflows and Outflows

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

Magna International Stock Performance

The company has a market capitalization of $9.58 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The business's fifty day moving average is $34.79 and its two-hundred day moving average is $39.43.

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.

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