TD Securities Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price reduced by TD Securities from $50.00 to $47.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on MGA. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. UBS Group dropped their price objective on Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI dropped their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research note on Tuesday. Barclays dropped their price objective on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $41.00 to $52.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $48.88.

Magna International Stock Up 1.5 %

Shares of Magna International stock opened at $38.72 on Tuesday. The business’s fifty day moving average price is $40.57 and its two-hundred day moving average price is $41.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The company has a market capitalization of $10.92 billion, a P/E ratio of 11.03, a PEG ratio of 0.60 and a beta of 1.61. Magna International has a 1-year low of $35.05 and a 1-year high of $56.12.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.71% and a net margin of 2.36%. The company had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.32 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that Magna International will post 6.04 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.01%. 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. Magna International’s payout ratio is presently 55.27%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGA. Forsta AP Fonden raised its position in Magna International by 20.3% during the third quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock valued at $3,462,000 after buying an additional 14,200 shares during the period. Arkadios Wealth Advisors acquired a new position in Magna International during the third quarter valued at $216,000. Janney Montgomery Scott LLC raised its position in Magna International by 11.4% during the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after buying an additional 21,532 shares during the period. Van ECK Associates Corp grew its stake in Magna International by 6.6% in the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock valued at $517,000 after purchasing an additional 766 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new position in Magna International in the third quarter valued at about $32,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.