Scotiabank Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price increased by Scotiabank from $50.00 to $52.00 in a research note released on Monday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other brokerages have also issued reports on MGA. Barclays cut their target price on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their target price on Magna International from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. UBS Group cut their price target on Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Raymond James decreased their price objective on Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. Finally, Evercore cut their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus price target of $49.76.

Magna International Trading Down 1.1 %

NYSE:MGA opened at $42.13 on Monday. The company has a market cap of $12.11 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.68 and a beta of 1.59. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $41.34 and a two-hundred day simple moving average of $43.02. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. Research analysts forecast that Magna International will post 5.3 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.51%. Magna International’s payout ratio is currently 50.80%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in Magna International by 202.7% during the first quarter. BNP Paribas Financial Markets now owns 26,298 shares of the company’s stock valued at $1,433,000 after purchasing an additional 17,611 shares during the period. Janney Montgomery Scott LLC boosted its stake in Magna International by 5.8% during the first quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock worth $8,573,000 after buying an additional 8,680 shares during the period. Quantbot Technologies LP bought a new position in Magna International during the first quarter valued at $1,009,000. SG Americas Securities LLC lifted its holdings in shares of Magna International by 22.2% in the 1st quarter. SG Americas Securities LLC now owns 36,170 shares of the company’s stock worth $1,971,000 after acquiring an additional 6,581 shares during the last quarter. Finally, Forsta AP Fonden boosted its stake in shares of Magna International by 20.4% during the 1st quarter. Forsta AP Fonden now owns 64,800 shares of the company’s stock worth $3,533,000 after purchasing an additional 11,000 shares during the period. Institutional investors own 67.49% of the company’s stock.

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.