Magna International Inc. (NYSE:MGA) Short Interest Up 48.9% in May

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 15,870,000 shares, a growth of 48.9% from the April 30th total of 10,660,000 shares. Currently, 6.0% of the company's shares are sold short. Based on an average daily trading volume, of 2,200,000 shares, the short-interest ratio is currently 7.2 days.

Wall Street Analysts Forecast Growth

MGA has been the subject of several research analyst reports. Bank of America lowered shares of Magna International from a "buy" rating to a "neutral" rating and decreased their price target for the company from $52.00 to $48.00 in a report on Tuesday, March 4th. UBS Group reduced their target price on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. CIBC upped their target price on shares of Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Royal Bank of Canada reduced their target price on shares of Magna International from $32.00 to $31.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Finally, BMO Capital Markets reduced their target price on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $41.56.

Institutional Investors Weigh In On Magna International

A number of institutional investors and hedge funds have recently modified their holdings of the company. United Services Automobile Association bought a new stake in shares of Magna International in the 1st quarter valued at about $305,000. Integrated Wealth Concepts LLC grew its stake in Magna International by 19.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company's stock valued at $231,000 after buying an additional 1,123 shares during the last quarter. Amundi grew its stake in Magna International by 19.0% in the 1st quarter. Amundi now owns 582,710 shares of the company's stock valued at $19,305,000 after buying an additional 93,189 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Magna International in the 1st quarter valued at about $8,416,000. Finally, Quantbot Technologies LP grew its stake in Magna International by 3,849.3% in the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock valued at $5,639,000 after buying an additional 161,707 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Stock Down 0.4%

NYSE:MGA traded down $0.14 on Thursday, hitting $36.10. 1,195,345 shares of the company's stock were exchanged, compared to its average volume of 1,731,892. The firm has a 50-day moving average price of $34.35 and a 200-day moving average price of $38.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. Magna International has a 52 week low of $30.39 and a 52 week high of $47.22. The company has a market cap of $10.17 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its 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 the consensus estimate 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 period in the previous year, the company posted $1.08 earnings per share. As a group, analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.485 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.37%. Magna International's payout ratio is 48.50%.

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.