TD Securities Cuts Magna International (NYSE:MGA) Price Target to $47.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by TD Securities from $50.00 to $47.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Evercore ISI lowered their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday. CIBC raised their price objective on Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Finally, UBS Group lowered their price objective on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Magna International currently has an average rating of “Hold” and an average price target of $48.88.

Magna International Price Performance

MGA stock opened at $38.72 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. Magna International has a 1 year low of $35.05 and a 1 year high of $56.12. The firm has a market cap of $10.92 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. The stock has a 50-day simple moving average of $40.57 and a 200-day simple moving average of $41.55.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts predict that Magna International will post 6.04 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.485 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 5.01%. Magna International’s dividend payout ratio (DPR) is 55.27%.

Institutional Trading of Magna International

Several hedge funds have recently made changes to their positions in MGA. Avior Wealth Management LLC lifted its holdings in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Magna International in the 3rd quarter worth approximately $32,000. LRI Investments LLC lifted its holdings in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after purchasing an additional 723 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Magna International in the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC raised its stake in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after acquiring an additional 312 shares in the last quarter. 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.