Magna International (NYSE:MGA) Price Target Lowered to $47.00 at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by TD Securities from $50.00 to $47.00 in a report published on Tuesday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

MGA has been the subject of a number of other research reports. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Barclays cut their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday. Royal Bank of Canada upgraded shares of Magna International from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $41.00 to $52.00 in a report on Friday, January 24th. UBS Group dropped their target price on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, CIBC lifted their target price on shares of Magna International from $46.00 to $51.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus price target of $48.88.

Magna International Price Performance

NYSE MGA opened at $38.06 on Tuesday. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12. 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 firm has a market capitalization of $10.77 billion, a PE ratio of 10.18, a P/E/G ratio of 0.60 and a beta of 1.61. The company’s 50 day simple moving average is $40.99 and its 200 day simple moving average is $41.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.32 billion. During the same period last year, the firm posted $1.33 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Magna International will post 5.23 EPS for the current fiscal year.

Magna International Increases Dividend

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

Institutional Investors Weigh In On Magna International

Several hedge funds have recently bought and sold shares of MGA. Forsta AP Fonden raised its holdings in Magna International by 20.3% in the third quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock worth $3,462,000 after purchasing an additional 14,200 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Magna International during the third quarter worth $216,000. Janney Montgomery Scott LLC increased its position in shares of Magna International by 11.4% during the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after acquiring an additional 21,532 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Magna International by 6.6% during the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock worth $517,000 after acquiring an additional 766 shares in the last quarter. Finally, Kennebec Savings Bank bought a new stake in shares of Magna International during the third quarter worth $32,000. 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.