UBS Group Lowers Magna International (NYSE:MGA) Price Target to $34.00

Magna International (NYSE:MGA) (TSE:MG) had its target price cut by UBS Group from $41.00 to $34.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also weighed in on MGA. Royal Bank of Canada decreased their price target on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. Evercore ISI decreased their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a report on Tuesday, February 18th. Barclays cut their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. TD Securities decreased their price target on Magna International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Finally, Raymond James lowered their price objective on Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.91.

Magna International Trading Up 0.2 %

NYSE MGA opened at $32.21 on Thursday. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. Magna International has a twelve month low of $30.39 and a twelve month high of $50.75. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $36.25 and its 200 day moving average is $40.19.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same period last year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is presently 55.27%.

Institutional Investors Weigh In On Magna International

Large investors have recently bought and sold shares of the stock. ARGA Investment Management LP boosted its position in shares of Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after purchasing an additional 1,568,953 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares during the period. Geode Capital Management LLC boosted its holdings in Magna International by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after acquiring an additional 371,437 shares in the last quarter. Mufg Securities Canada LTD. grew its stake in Magna International by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock valued at $17,228,000 after acquiring an additional 172,754 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Magna International by 35.5% during the fourth quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock valued at $4,719,000 after acquiring an additional 29,567 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.