Magna International (NYSE:MGA) Given New $57.00 Price Target at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by TD Securities from $62.00 to $57.00 in a report released on Monday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other brokerages have also issued reports on MGA. Wells Fargo & Company lowered their price target on shares of Magna International from $49.00 to $46.00 and set an equal weight rating on the stock in a research note on Tuesday, June 25th. National Bankshares decreased their price objective on shares of Magna International from $60.00 to $57.00 and set a market perform rating for the company in a research report on Monday, May 6th. StockNews.com downgraded shares of Magna International from a buy rating to a hold rating in a research report on Friday, May 10th. CIBC decreased their price objective on shares of Magna International from $59.00 to $54.00 and set a neutral rating for the company in a research report on Monday, May 6th. Finally, Barclays decreased their price objective 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. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $54.88.

Magna International Stock Up 0.0 %

Shares of MGA stock opened at $45.81 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Magna International has a 1 year low of $40.83 and a 1 year high of $65.27. The firm’s fifty day moving average price is $44.19 and its two-hundred day moving average price is $50.26. The firm has a market capitalization of $13.16 billion, a P/E ratio of 13.01, a PEG ratio of 0.57 and a beta of 1.59.

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

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, May 16th. Magna International’s payout ratio is 53.98%.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in MGA. Russell Investments Group Ltd. boosted its stake in shares of Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after purchasing an additional 289,105 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Magna International by 0.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after purchasing an additional 2,727 shares during the last quarter. QV Investors Inc. boosted its stake in shares of Magna International by 1.0% in the 1st quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after purchasing an additional 6,895 shares during the last quarter. Azimuth Capital Investment Management LLC boosted its stake in shares of Magna International by 39.4% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after purchasing an additional 53,695 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Magna International by 5.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock valued at $8,573,000 after purchasing an additional 8,680 shares during the last quarter. 67.49% of the stock is owned by 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.