Magna International (NYSE:MGA) PT Lowered to $60.00 at Barclays

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by Barclays from $62.00 to $60.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. StockNews.com upgraded Magna International from a hold rating to a buy rating in a research note on Thursday, May 2nd. Raymond James cut their price target on Magna International from $62.00 to $60.00 and set a market perform rating for the company in a research note on Monday, February 12th. Scotiabank cut their price target on Magna International from $62.00 to $59.00 and set a sector perform rating for the company in a research note on Monday, February 12th. JPMorgan Chase & Co. increased their price objective on Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Finally, UBS Group increased their price objective on Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Magna International currently has a consensus rating of Hold and a consensus price target of $60.00.

Magna International Stock Up 1.0 %

Shares of NYSE:MGA opened at $47.08 on Monday. The company has a market capitalization of $13.53 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The business has a fifty day moving average price of $51.55 and a two-hundred day moving average price of $53.84. Magna International has a 1 year low of $45.75 and a 1 year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 EPS. Analysts forecast that Magna International will post 6.13 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.04%. Magna International’s dividend payout ratio is 53.98%.

Hedge Funds Weigh In On Magna International

Large investors have recently modified their holdings of the company. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Magna International by 3.9% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after buying an additional 2,646 shares in the last quarter. Natixis Advisors L.P. grew its position in Magna International by 243.3% during the 3rd quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock worth $2,724,000 after acquiring an additional 36,005 shares during the last quarter. Toronto Dominion Bank grew its position in Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after acquiring an additional 157,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after acquiring an additional 2,727 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in Magna International during the 4th quarter worth approximately $237,000. 67.49% of the stock is owned by hedge funds and other 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.