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

Magna International (NYSE:MGA) (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.

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:MGA) (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

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.