Magna International (NYSE:MGA) Price Target Lowered to $37.00 at Barclays

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by Barclays from $47.00 to $37.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the stock. CIBC dropped their target price on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Scotiabank lowered their price objective on Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Morgan Stanley cut their target price on Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group cut their price objective on shares of Magna International from $38.00 to $31.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Finally, Evercore ISI dropped their price target on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Magna International has an average rating of “Hold” and a consensus target price of $44.32.

Magna International Price Performance

Shares of NYSE MGA opened at $32.30 on Tuesday. The business has a 50 day moving average price of $36.00 and a two-hundred day moving average price of $40.05. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $50.18. The firm has a market cap of $9.10 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35.

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

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.485 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.01%. Magna International’s dividend payout ratio (DPR) is 55.27%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. raised its holdings in shares of Magna International by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after acquiring an additional 276 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the period. Avior Wealth Management LLC increased its stake in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares during the period. Finally, LRI Investments LLC lifted its position in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 723 shares in the last quarter. Institutional investors and hedge funds 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.