Magna International (NYSE:MGA) Upgraded by Veritas to "Hold" Rating

Veritas upgraded shares of Magna International (NYSE:MGA - Free Report) TSE: MG to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on MGA. Raymond James reduced their price target on Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, February 18th. TD Securities decreased their target price on Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada cut shares of Magna International from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $51.00 to $32.00 in a research note on Friday, April 11th. Barclays dropped their target price on shares of Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group lowered their price target on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Magna International has a consensus rating of "Hold" and a consensus target price of $43.74.

Magna International Stock Down 0.7 %

MGA traded down $0.25 during trading on Thursday, reaching $34.76. 2,268,105 shares of the stock traded hands, compared to its average volume of 2,027,939. The stock's 50-day simple moving average is $34.93 and its two-hundred day simple moving average is $39.51. 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 fifty-two week low of $34.13 and a fifty-two week high of $37.20. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm had revenue of $10.63 billion during the quarter, compared to analysts' expectations of $10.32 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The company's revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.58%. This is a boost from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio (DPR) is 55.27%.

Institutional Trading of Magna International

Several large investors have recently added to or reduced their stakes in the company. DGS Capital Management LLC increased its stake in shares of Magna International by 25.5% in the third quarter. DGS Capital Management LLC now owns 9,976 shares of the company's stock valued at $409,000 after buying an additional 2,027 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after purchasing an additional 301 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Magna International by 88.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company's stock worth $88,000 after purchasing an additional 992 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Magna International by 29.3% during the fourth quarter. SG Americas Securities LLC now owns 48,643 shares of the company's stock valued at $2,033,000 after acquiring an additional 11,015 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. 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.