The Goldman Sachs Group Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by The Goldman Sachs Group from $38.00 to $31.00 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Several other analysts have also recently weighed in on the company. Barclays dropped their price objective on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Evercore ISI cut their price objective on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. UBS Group reduced their price objective on shares of Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their target price on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Finally, Bank of America lowered Magna International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. 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. Based on data from MarketBeat, Magna International presently has a consensus rating of “Hold” and a consensus target price of $46.03.

Magna International Price Performance

Shares of MGA stock opened at $32.08 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.63 and a beta of 1.56. The firm’s 50 day moving average is $36.36 and its 200-day moving average is $40.24. Magna International has a 1 year low of $30.39 and a 1 year high of $51.39.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.23. The firm had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Sell-side analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.485 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 6.05%. Magna International’s dividend payout ratio is presently 55.27%.

Institutional Trading of Magna International

A number of institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Magna International in the 1st quarter valued at $27,000. LRI Investments LLC lifted its position in 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 buying an additional 723 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Magna International during the 4th quarter worth about $33,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Magna International by 43.1% in 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. 67.49% of the stock is currently owned by institutional investors.

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.