Magna International (NYSE:MGA) PT Lowered to $49.00

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by Wells Fargo & Company from $52.00 to $49.00 in a research note issued to investors on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Magna International from $60.00 to $57.00 and set a neutral rating for the company in a research report on Monday, February 12th. UBS Group increased their target price on shares of Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Royal Bank of Canada dropped their price target on Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Raymond James lowered their target price 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. Finally, StockNews.com upgraded Magna International from a hold rating to a buy rating in a research note on Thursday, May 2nd. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Magna International currently has an average rating of Hold and an average price target of $60.00.

Magna International Stock Performance

NYSE MGA opened at $46.40 on Monday. The company has a fifty day moving average of $51.38 and a two-hundred day moving average of $53.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a 1 year low of $45.75 and a 1 year high of $65.27. The company has a market capitalization of $13.33 billion, a PE ratio of 13.18, a P/E/G ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) 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 analyst estimates of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share. As a group, analysts expect that Magna International will post 6.13 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, May 16th. Magna International’s dividend payout ratio is presently 53.98%.

Institutional Investors Weigh In On Magna International

A number of hedge funds and other institutional investors have recently made changes to their positions in MGA. S.A. Mason LLC lifted its position in Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Magna International by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after acquiring an additional 312 shares during the period. UMB Bank n.a. boosted its position in shares of Magna International by 13.0% in the first quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after acquiring an additional 350 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.