Magna International, Inc. (NYSE:MGA) (TSE:MG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently weighed in on MGA. Macquarie raised shares of Magna International from a “neutral” rating to an “outperform” rating in a research note on Monday, February 27th. Zacks Investment Research downgraded shares of Magna International from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. TD Securities raised shares of Magna International from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $55.00 in a research note on Friday, May 12th. Royal Bank Of Canada lifted their price target on shares of Magna International from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 12th. Finally, Scotiabank lifted their price target on shares of Magna International from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $50.05.

Analyst Recommendations for Magna International (NYSE:MGA)

Magna International (MGA) traded down 3.87% on Friday, hitting $43.46. The company’s stock had a trading volume of 2,682,152 shares. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 7.95 and a beta of 1.39. Magna International has a 12 month low of $32.76 and a 12 month high of $47.21. The firm has a 50 day moving average of $44.47 and a 200 day moving average of $43.56.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Thursday, May 11th. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.19. Magna International had a net margin of 5.76% and a return on equity of 20.58%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Magna International will post $5.78 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Wednesday, May 24th. Magna International’s dividend payout ratio (DPR) is 20.11%.

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Institutional investors have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Magna International during the first quarter worth approximately $173,000. SRS Capital Advisors Inc. increased its position in shares of Magna International by 16.4% in the first quarter. SRS Capital Advisors Inc. now owns 3,239 shares of the company’s stock worth $139,000 after buying an additional 456 shares during the period. IFP Advisors Inc increased its position in shares of Magna International by 3.8% in the first quarter. IFP Advisors Inc now owns 3,357 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the period. Advisory Services Network LLC acquired a new position in shares of Magna International during the first quarter worth approximately $157,000. Finally, Greenleaf Trust acquired a new position in shares of Magna International during the first quarter worth approximately $216,000. 61.30% of the stock is owned by institutional investors.

About Magna International

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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