Magna International (NYSE:MGA) Price Target Cut to $46.00

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by Wells Fargo & Company from $49.00 to $46.00 in a research note issued to investors on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts have also commented on the stock. Evercore cut their target price on shares of Magna International from $62.00 to $60.00 and set an in-line rating for the company in a research note on Monday, May 6th. StockNews.com cut shares of Magna International from a buy rating to a hold rating in a research report on Friday, May 10th. Barclays reduced their price target on shares of Magna International from $62.00 to $60.00 and set an equal weight rating for the company in a research report on Monday, May 6th. National Bankshares lowered their target price on Magna International from $60.00 to $57.00 and set a market perform rating on the stock in a research note on Monday, May 6th. Finally, CIBC cut their price target on shares of Magna International from $59.00 to $54.00 and set a neutral rating on the stock in a report on Monday, May 6th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $59.81.

Magna International Stock Performance

MGA opened at $41.89 on Tuesday. Magna International has a 1-year low of $40.83 and a 1-year high of $65.27. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.53 and a beta of 1.62. The business has a 50 day moving average price of $45.40 and a two-hundred day moving average price of $51.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a return on equity of 12.96% and a net margin of 2.35%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. Magna International’s revenue was up 2.8% on a year-over-year basis. Research analysts predict that Magna International will post 5.83 EPS for the current fiscal year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, May 16th. Magna International’s payout ratio is presently 53.98%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares during the period. LRI Investments LLC acquired a new stake in shares of Magna International in the 1st quarter valued at $36,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International during the 1st quarter worth about $49,000. Finally, S.A. Mason LLC lifted its holdings in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares during the last quarter. 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.