Magna International (NYSE:MGA) Price Target Cut to $49.00 by Analysts at Scotiabank

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by Scotiabank from $52.00 to $49.00 in a report issued on Monday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

MGA has been the topic of a number of other research reports. CIBC lifted their price objective on Magna International from $46.00 to $51.00 in a report on Monday, January 13th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. UBS Group lifted their price objective on Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and reduced their price target for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. Finally, Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Magna International has a consensus rating of “Hold” and a consensus price target of $50.24.

Magna International Stock Performance

NYSE MGA opened at $41.51 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Magna International has a 52-week low of $38.01 and a 52-week high of $59.37. The business’s 50-day moving average price is $42.72 and its 200 day moving average price is $42.14. The firm has a market cap of $11.74 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.63 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the prior year, the firm posted $1.46 EPS. Magna International’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts expect that Magna International will post 5.22 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.475 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.58%. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC raised its holdings in 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 acquiring an additional 600 shares during the last quarter. Kennebec Savings Bank acquired a new position in Magna International in the 3rd quarter valued at $32,000. Grove Bank & Trust raised its holdings in Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after acquiring an additional 343 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after acquiring an additional 301 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after acquiring an additional 513 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.