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

Magna International (NYSE:MGAFree Report) (TSE:MG) had its target price boosted by UBS Group from $44.00 to $45.00 in a research report report published on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on MGA. Barclays lowered their price objective on Magna International from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Evercore ISI lowered their target price on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Bank of America dropped their price objective on Magna International from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Citigroup cut their price target on shares of Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, BMO Capital Markets decreased their price target on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.76.

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Magna International Stock Performance

Shares of MGA traded down $0.06 on Monday, reaching $42.08. 127,381 shares of the company’s stock traded hands, compared to its average volume of 1,581,692. The stock’s 50 day simple moving average is $41.33 and its two-hundred day simple moving average is $43.07. The stock has a market cap of $12.09 billion, a PE ratio of 11.27, a PEG ratio of 0.67 and a beta of 1.59. Magna International has a 52-week low of $38.01 and a 52-week high of $60.32. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last announced its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 12.03%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. On average, analysts forecast that Magna International will post 5.4 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.52%. Magna International’s payout ratio is currently 50.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MGA. Kennebec Savings Bank bought a new stake in shares of Magna International during the 3rd quarter valued at about $32,000. Van ECK Associates Corp grew its holdings in shares of Magna International by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock worth $517,000 after acquiring an additional 766 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after acquiring an additional 21,532 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Magna International in the 3rd quarter valued at approximately $216,000. Finally, Forsta AP Fonden boosted its position in shares of 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 purchasing an additional 14,200 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

About Magna International

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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.

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Analyst Recommendations for Magna International (NYSE:MGA)

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