UBS Group Boosts Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA - Free Report) TSE: MG had its target price lifted by UBS Group from $37.00 to $45.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Barclays reduced their price target on Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. BMO Capital Markets dropped their price target on Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Bank of America increased their price objective on shares of Magna International from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. The Goldman Sachs Group cut their price target on shares of Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Magna International from $37.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.71.

Magna International Stock Up 0.9%

NYSE:MGA traded up $0.38 during trading hours on Monday, reaching $42.46. The company's stock had a trading volume of 428,648 shares, compared to its average volume of 1,734,750. The stock has a 50 day moving average price of $38.00 and a two-hundred day moving average price of $37.30. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 1.06. The company has a market capitalization of $11.96 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.50. Magna International has a 12 month low of $30.39 and a 12 month high of $47.22.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). The company had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a net margin of 2.73% and a return on equity of 11.96%. Magna International'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 business earned $1.08 EPS. Equities analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 annualized dividend and a yield of 4.57%. Magna International's dividend payout ratio is presently 48.50%.

Hedge Funds Weigh In On Magna International

A number of large investors have recently bought and sold shares of MGA. 1620 Investment Advisors Inc. lifted its stake in Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock valued at $328,000 after buying an additional 276 shares in the last quarter. Cromwell Holdings LLC raised its stake in Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after purchasing an additional 466 shares during the last quarter. LRI Investments LLC lifted its holdings in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after purchasing an additional 723 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Magna International during the 1st quarter worth $27,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Magna International during the fourth quarter worth $33,000. Institutional investors and hedge funds 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.