Magna International (NYSE:MGA) Given New $45.00 Price Target at Evercore ISI

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by Evercore ISI from $50.00 to $45.00 in a report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group cut Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. Barclays decreased their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday. CIBC boosted their target price on Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Finally, StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.88.

Magna International Price Performance

Shares of MGA opened at $38.06 on Tuesday. The business’s 50-day moving average is $40.99 and its 200-day moving average is $41.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.60 and a beta of 1.61. Magna International has a fifty-two week low of $35.05 and a fifty-two week high of $56.12.

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

Magna International Increases Dividend

The company 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. The ex-dividend date is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a yield of 5.10%. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is 50.80%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC grew its position in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. LRI Investments LLC boosted its position in Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after purchasing an additional 723 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Magna International during the 3rd quarter worth $32,000. Millstone Evans Group LLC purchased a new position in Magna International in the fourth quarter valued at approximately $33,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after buying an additional 312 shares in the last quarter. Hedge funds and other institutional investors 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.