Magna International (NYSE:MGA) Price Target Lowered to $50.00 at Raymond James

Magna International (NYSE:MGA) (TSE:MG) had its target price trimmed by Raymond James from $53.00 to $50.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other brokerages have also recently weighed in on MGA. CIBC upped their price target on shares of Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Evercore ISI decreased their price objective on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research report on Tuesday. Barclays decreased their price objective on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, UBS Group decreased their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.88.

Magna International Stock Up 0.5 %

Shares of Magna International stock opened at $38.06 on Tuesday. The company has a fifty day moving average price of $40.99 and a 200 day moving average price of $41.61. 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 stock has a market cap of $10.77 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly 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 in the prior year, the company earned $1.33 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Magna International will post 5.23 earnings per share 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 paid 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 yield of 5.10%. Magna International’s dividend payout ratio is 50.80%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake 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 period. Kennebec Savings Bank acquired a new stake in shares of Magna International in the third quarter valued at approximately $32,000. LRI Investments LLC increased its stake in shares of Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Magna International in the fourth quarter valued at approximately $33,000. Finally, Lindbrook Capital LLC increased its stake 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 valued at $43,000 after purchasing an additional 312 shares during the period. 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.