Barclays Cuts Magna International (NYSE:MGA) Price Target to $47.00

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

Other research analysts have also recently issued reports about the company. UBS Group lifted their price target on Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Royal Bank of Canada raised shares of Magna International from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $52.00 in a report on Friday, January 24th. TD Securities cut their price objective on shares of Magna International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Monday, January 27th. CIBC lifted their price objective on shares of Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Finally, StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.88.

Magna International Trading Up 1.5 %

NYSE MGA opened at $38.72 on Tuesday. The company has a fifty day moving average of $40.57 and a 200 day moving average of $41.55. The company has a market capitalization of $10.92 billion, a PE ratio of 11.03, a P/E/G ratio of 0.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a 1 year low of $35.05 and a 1 year high of $56.12.

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 firm had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a return on equity of 12.71% and a net margin of 2.36%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 earnings per share. Research analysts forecast that Magna International will post 6.04 earnings per share for the current year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued 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 of this dividend is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.01%. Magna International’s dividend payout ratio is presently 55.27%.

Institutional Trading of Magna International

Large investors have recently bought and sold shares of the business. Avior Wealth Management LLC grew its stake in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Magna International in the third quarter valued at approximately $32,000. LRI Investments LLC grew its position 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 in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Magna International in the fourth quarter valued at approximately $33,000. Finally, Lindbrook Capital LLC grew its holdings in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after buying an additional 312 shares in the last quarter. Hedge funds and other 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.