Magna International (NYSE:MGA) Price Target Cut to $47.00 by Analysts at Barclays

Magna International (NYSE:MGA) (TSE:MG) had its price target trimmed by Barclays from $50.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

MGA has been the subject of a number of other reports. Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $52.00 in a research report on Friday, January 24th. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and dropped their target price for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. Finally, Scotiabank decreased their price target on Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Magna International currently has an average rating of “Hold” and a consensus target price of $48.88.

Magna International Trading Up 0.5 %

Shares of 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 company’s 50-day moving average price is $40.99 and its 200-day moving average price is $41.61. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.60 and a beta of 1.61.

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

Magna International Increases Dividend

The company also recently announced 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 boost from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.94 annualized dividend and a yield of 5.10%. Magna International’s dividend payout ratio (DPR) is 50.80%.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in shares of Magna International by 2,400.0% during the fourth 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. Kennebec Savings Bank acquired a new position in shares of Magna International during the 3rd quarter worth about $32,000. LRI Investments LLC increased its holdings in shares of 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 during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Magna International during the 4th quarter worth about $33,000. Finally, Lindbrook Capital LLC lifted its stake in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.