Magna International (NYSE:MGA) Price Target Lowered to $57.00 at National Bankshares

Magna International (NYSE:MGA) (TSE:MG) had its price objective cut by National Bankshares from $60.00 to $57.00 in a report issued on Monday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

A number of other equities research analysts have also recently commented on MGA. CIBC decreased their price target on Magna International from $59.00 to $54.00 and set a neutral rating on the stock in a report on Monday. JPMorgan Chase & Co. boosted their price target on Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Barclays cut their price objective on shares of Magna International from $62.00 to $60.00 and set an equal weight rating for the company in a report on Monday. The Goldman Sachs Group dropped their target price on shares of Magna International from $56.00 to $48.00 and set a neutral rating for the company in a research report on Monday. Finally, Royal Bank of Canada reduced their price target on shares of Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $60.00.

Magna International Price Performance

Shares of Magna International stock opened at $46.85 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The stock’s fifty day moving average is $51.87 and its 200 day moving average is $53.92. The stock has a market cap of $13.46 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.47 and a beta of 1.69. Magna International has a one year low of $45.99 and a one year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. Sell-side analysts anticipate that Magna International will post 6.13 earnings per share for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.90 annualized dividend and a dividend yield of 4.06%. Magna International’s dividend payout ratio (DPR) is presently 53.98%.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently added to or reduced their stakes in MGA. Sunbelt Securities Inc. lifted its stake in Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Magna International during the 1st quarter worth approximately $49,000. S.A. Mason LLC grew its position in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Magna International by 50.8% in the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the period. 67.49% of the stock is currently 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.