Magna International (NYSE:MGA) Given New $46.00 Price Target at Wells Fargo & Company

Magna International (NYSE:MGA) (TSE:MG) had its target price lifted by Wells Fargo & Company from $44.00 to $46.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

MGA has been the topic of a number of other research reports. Royal Bank of Canada cut their target price on Magna International from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Barclays lowered their price target on Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. CIBC lowered their price objective on shares of Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, TD Securities lowered their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Magna International presently has a consensus rating of “Hold” and a consensus price target of $49.76.

Magna International Stock Up 0.3 %

NYSE MGA traded up $0.13 during trading on Monday, reaching $42.27. 146,341 shares of the company’s stock traded hands, compared to its average volume of 1,582,181. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.67 and a beta of 1.59. The company’s 50 day simple moving average is $41.33 and its two-hundred day simple moving average is $43.07. 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 results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a return on equity of 12.03% and a net margin of 2.52%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, sell-side analysts forecast that Magna International will post 5.4 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.49%. Magna International’s dividend payout ratio is presently 50.80%.

Institutional Trading of Magna International

Several large investors have recently modified their holdings of the business. LRI Investments LLC bought a new position in Magna International in the 1st quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International during the second quarter worth $28,000. Kennebec Savings Bank acquired a new stake in shares of Magna International in the third quarter worth about $32,000. Grove Bank & Trust lifted its stake in shares of Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares during the period. 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.