Magna International (NYSE:MGA) Price Target Lowered to $45.00 at Scotiabank

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by Scotiabank from $49.00 to $45.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on the company. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays dropped their price target on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group dropped their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $42.00 to $41.00 in a research report on Wednesday, December 11th. Finally, CIBC raised their price objective on Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.88.

Magna International Stock Performance

MGA stock opened at $38.72 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business’s fifty day simple moving average is $40.57 and its two-hundred day simple moving average is $41.55. Magna International has a twelve month low of $35.05 and a twelve month high of $56.12. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.32 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. Analysts predict that Magna International will post 6.04 earnings per share for the current year.

Magna International Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. raised its stake in shares of Magna International by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after acquiring an additional 301 shares in the last quarter. Lindbrook Capital LLC raised its position in Magna International by 43.1% during the fourth 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. Avior Wealth Management LLC raised 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 valued at $26,000 after acquiring an additional 600 shares in the last quarter. Finally, LRI Investments LLC raised its position in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after acquiring an additional 723 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.