Magna International (NYSE:MGA) Price Target Raised to $45.00 at TD Securities

Magna International (NYSE:MGA - Free Report) TSE: MG had its price target lifted by TD Securities from $44.00 to $45.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Raymond James decreased their target price on shares of 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. Evercore ISI decreased their price objective on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a report on Tuesday, February 18th. Veritas upgraded Magna International to a "hold" rating in a research note on Thursday, April 24th. Bank of America lowered Magna International from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $52.00 to $48.00 in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group dropped their price objective 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $42.13.

Magna International Price Performance

Shares of NYSE:MGA traded up $0.30 during trading on Monday, hitting $34.82. 818,877 shares of the stock were exchanged, compared to its average volume of 1,767,964. 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 company has a market cap of $9.81 billion, a PE ratio of 9.92, a P/E/G ratio of 0.63 and a beta of 1.52. Magna International has a 12-month low of $30.39 and a 12-month high of $48.18. The company has a fifty day moving average price of $34.45 and a two-hundred day moving average price of $39.07.

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 the consensus estimate of $0.90 by ($0.12). The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.66 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. On average, analysts forecast that Magna International will post 5.87 EPS for the current year.

Magna International Announces Dividend

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

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARGA Investment Management LP increased its position in shares of Magna International by 17.0% during the first quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock worth $101,890,000 after acquiring an additional 436,366 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock valued at $100,087,000 after purchasing an additional 822,375 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Magna International by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock valued at $63,280,000 after buying an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. grew its position in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock worth $17,228,000 after buying an additional 172,754 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Magna International by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock worth $8,582,000 after buying an additional 13,220 shares in the last quarter. Hedge funds and other 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.