Magna International (NYSE:MGA) Hits New 12-Month Low at $45.59

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG's share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $45.59 and last traded at $45.59, with a volume of 90936 shares trading hands. The stock had previously closed at $46.09.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MGA shares. Wells Fargo & Company dropped their price objective on shares of Magna International from $52.00 to $49.00 and set an "equal weight" rating on the stock in a report on Monday, May 6th. Barclays decreased their target price on Magna International from $62.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday, May 6th. BMO Capital Markets cut their price target on Magna International from $67.00 to $65.00 and set an "outperform" rating for the company in a report on Monday, February 12th. CIBC decreased their price objective on Magna International from $59.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, May 6th. Finally, StockNews.com downgraded Magna International from a "buy" rating to a "hold" rating in a research note on Friday, May 10th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Magna International currently has a consensus rating of "Hold" and an average price target of $60.00.

Magna International Stock Down 2.9 %

The business has a 50-day moving average of $50.12 and a 200 day moving average of $53.67. The company has a market capitalization of $12.86 billion, a PE ratio of 12.89, a P/E/G ratio of 0.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $10.97 billion. During the same period in the previous year, the company earned $1.11 EPS. Magna International's revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts predict that Magna International Inc. will post 5.81 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Thursday, May 16th. Magna International's payout ratio is 53.98%.

Institutional Investors Weigh In On Magna International

Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its holdings in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company's stock worth $30,000 after purchasing an additional 523 shares during the period. LRI Investments LLC purchased a new position in Magna International during the first quarter worth $36,000. Massmutual Trust Co. FSB ADV increased its position in Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company's stock valued at $40,000 after acquiring an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Magna International in the first quarter valued at $49,000. Finally, S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock worth $69,000 after purchasing an additional 229 shares during the period. 67.49% of the stock is owned by institutional investors.

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.