Magna International (NYSE:MGA) Price Target Raised to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by Bank of America from $42.00 to $45.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on MGA. Barclays lowered their price target on shares of Magna International from $47.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, April 15th. TD Securities upped their target price on shares of Magna International from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of Magna International from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. The Goldman Sachs Group lowered their target price on shares of Magna International from $38.00 to $31.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Finally, UBS Group lowered their target price on shares of Magna International from $41.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.38.

Magna International Trading Up 1.3%

NYSE MGA opened at $37.82 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. Magna International has a 52 week low of $30.39 and a 52 week high of $47.22. The stock has a market capitalization of $10.66 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50. The firm has a 50 day moving average of $35.08 and a two-hundred day moving average of $37.83.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same quarter last year, the firm earned $1.08 EPS. The company’s revenue was down 8.2% on a year-over-year basis. As a group, research analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.485 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.94 annualized dividend and a yield of 5.13%. Magna International’s dividend payout ratio (DPR) is 48.50%.

Hedge Funds Weigh In On Magna International

Large investors have recently bought and sold shares of the company. Mufg Securities Canada LTD. raised its position in Magna International by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after buying an additional 172,754 shares during the last quarter. Jones Financial Companies Lllp raised its position in Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after buying an additional 29,567 shares during the last quarter. Bank of New York Mellon Corp raised its position in Magna International by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company’s stock worth $10,000,000 after buying an additional 14,441 shares during the last quarter. Russell Investments Group Ltd. raised its position in Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Magna International by 99.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company’s stock worth $2,108,000 after buying an additional 25,142 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.