UBS Group Cuts Magna International (NYSE:MGA) Price Target to $41.00

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by UBS Group from $44.00 to $41.00 in a research note issued to investors on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

MGA has been the subject of several other reports. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. CIBC increased their price target on shares of Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Scotiabank reduced their target price on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Finally, TD Securities lowered their price target on Magna International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Magna International currently has an average rating of “Hold” and an average price target of $48.88.

Magna International Price Performance

Shares of MGA opened at $38.72 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a 1-year low of $35.05 and a 1-year high of $56.12. The stock has a market cap of $10.92 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. The firm has a fifty day moving average price of $40.57 and a 200 day moving average price 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 for the quarter, beating the consensus estimate of $1.46 by $0.23. The business had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a return on equity of 12.71% and a net margin of 2.36%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 EPS. As a group, sell-side analysts anticipate that Magna International will post 6.04 EPS for the current year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.485 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, February 28th. Magna International’s payout ratio is presently 55.27%.

Hedge Funds Weigh In On Magna International

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