Magna International (NYSE:MGA) Given New $41.00 Price Target at UBS Group

Magna International (NYSE:MGA) (TSE:MG) had its target price trimmed by UBS Group from $44.00 to $41.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the stock. CIBC increased their target price on shares of Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Scotiabank lowered their price objective on Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Barclays reduced their price objective on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and an average price target of $48.88.

Magna International Stock Up 0.5 %

MGA stock opened at $38.06 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a twelve month low of $35.05 and a twelve month high of $56.12. The firm has a 50 day simple moving average of $40.99 and a 200-day simple moving average of $41.61. The company has a market capitalization of $10.77 billion, a P/E ratio of 10.18, a PEG ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. On average, equities research analysts predict that Magna International will post 5.23 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.485 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 5.10%. Magna International’s payout ratio is 50.80%.

Institutional Investors Weigh In On Magna International

Large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in shares of Magna International by 2,400.0% in the fourth 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. LRI Investments LLC raised 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 acquiring an additional 723 shares in the last quarter. Kennebec Savings Bank acquired a new position in Magna International in the 3rd quarter valued at $32,000. Millstone Evans Group LLC bought a new stake in shares of Magna International during the 4th quarter valued at $33,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. 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.