Magna International (NYSE:MGA) Price Target Raised to $52.00

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

A number of other analysts also recently issued reports on MGA. UBS Group dropped their price objective on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Citigroup dropped their price target on Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. BMO Capital Markets cut their price objective on Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Evercore decreased their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Finally, TD Securities dropped their target price on Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $49.76.

Magna International Stock Performance

NYSE:MGA opened at $42.13 on Monday. The stock has a market cap of $12.11 billion, a P/E ratio of 11.26, a PEG ratio of 0.68 and a beta of 1.59. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $41.34 and its two-hundred day moving average price is $43.02. Magna International has a twelve month low of $38.01 and a twelve 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 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter last year, the company posted $1.46 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Magna International will post 5.3 EPS for the current fiscal year.

Magna International Dividend Announcement

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

Hedge Funds Weigh In On Magna International

Large investors have recently made changes to their positions in the business. LRI Investments LLC purchased a new position in Magna International during the first quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Magna International during the second quarter valued at $28,000. Kennebec Savings Bank purchased a new position in shares of Magna International in the 3rd quarter worth about $32,000. Grove Bank & Trust boosted its stake in Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position 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 last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.