Magna International (NYSE:MGA) Price Target Cut to $63.00

Magna International (NYSE:MGA - Free Report) TSE: MG had its price objective reduced by TD Securities from $69.00 to $63.00 in a research report report published on Monday morning, MarketBeat reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Scotiabank reduced their price target on shares of Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. StockNews.com downgraded Magna International from a buy rating to a hold rating in a report on Tuesday, April 16th. Raymond James reduced their price objective on Magna International from $62.00 to $60.00 and set a market perform rating on the stock in a research note on Monday, February 12th. Evercore lowered shares of Magna International from an outperform rating to an in-line rating and lowered their target price for the company from $75.00 to $62.00 in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a research report on Monday. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $62.50.

Magna International Stock Up 2.0 %

Shares of MGA traded up $0.97 during mid-day trading on Monday, reaching $49.31. 6,604,727 shares of the stock traded hands, compared to its average volume of 1,369,737. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.49 and a beta of 1.69. The stock has a fifty day simple moving average of $53.09 and a 200 day simple moving average of $54.25. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. Magna International has a 12-month low of $46.71 and a 12-month high of $65.27.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The firm had revenue of $10.45 billion during the quarter, compared to analysts' expectations of $10.44 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Magna International will post 6.11 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.475 dividend. This is a positive change from Magna International's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.90 dividend on an annualized basis and a yield of 3.85%. Magna International's dividend payout ratio (DPR) is currently 45.02%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGA. Pzena Investment Management LLC raised its stake in shares of Magna International by 58.2% during the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company's stock worth $525,968,000 after purchasing an additional 3,609,429 shares in the last quarter. Toronto Dominion Bank lifted its stake in Magna International by 8.7% in the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company's stock valued at $105,430,000 after acquiring an additional 157,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Magna International by 18.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company's stock valued at $50,921,000 after acquiring an additional 147,950 shares during the last quarter. QV Investors Inc. grew its position in Magna International by 20.7% in the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company's stock worth $39,202,000 after acquiring an additional 113,332 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC increased its stake in shares of Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company's stock worth $11,214,000 after purchasing an additional 53,695 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.