Magna International (NYSE:MGA) Given New $50.00 Price Target at Raymond James

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by Raymond James from $53.00 to $50.00 in a research note released on Tuesday morning,Benzinga reports. Raymond James currently has a market perform rating on the stock.

Several other research analysts have also recently issued reports on the stock. UBS Group reduced their target price on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Scotiabank reduced their target price on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada dropped their price target on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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 simple moving average of $40.57 and a two-hundred day simple moving average of $41.55. The stock has a market cap of $10.92 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.60 and a beta of 1.61. Magna International has a 12-month low of $35.05 and a 12-month high of $56.12. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (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 12.71%. The firm had revenue of $10.63 billion during 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 firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that Magna International will post 6.04 earnings per share for the current year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.485 dividend. 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 annualized dividend and a dividend yield of 5.01%. Magna International’s dividend payout ratio (DPR) is 55.27%.

Institutional Trading of Magna International

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its position in shares of Magna International by 1.2% in the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after purchasing an additional 18,704 shares during the period. Quantbot Technologies LP lifted its stake in shares of Magna International by 12.5% in the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after buying an additional 16,639 shares in the last quarter. DGS Capital Management LLC lifted its stake in shares of Magna International by 111.0% in the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock worth $880,000 after buying an additional 11,072 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Magna International by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after buying an additional 32,000 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after buying an additional 301 shares in the last quarter. Institutional investors and hedge funds 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.