TD Securities Trims Magna International (NYSE:MGA) Target Price to $62.00

Magna International (NYSE:MGA) (TSE:MG) had its price target trimmed by TD Securities from $63.00 to $62.00 in a research note released on Monday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. StockNews.com raised Magna International from a hold rating to a buy rating in a research note on Thursday, May 2nd. National Bankshares decreased their price target on shares of Magna International from $60.00 to $57.00 and set a market perform rating for the company in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Magna International from $52.00 to $49.00 and set an equal weight rating for the company in a research note on Monday. UBS Group raised their price target on shares of Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Finally, Barclays decreased their price target on shares of Magna International from $62.00 to $60.00 and set an equal weight rating for the company in a research note on Monday. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $60.00.

Magna International Price Performance

NYSE MGA opened at $47.08 on Monday. The business has a 50 day simple moving average of $51.55 and a 200 day simple moving average of $53.84. Magna International has a 52-week low of $45.75 and a 52-week high of $65.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results 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). Magna International had a return on equity of 12.97% and a net margin of 2.35%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same period in the previous year, the company posted $1.11 earnings per share. Magna International’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts anticipate that Magna International will post 6.13 earnings per share for the current fiscal year.

Magna International Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MGA. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Magna International by 18.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after acquiring an additional 147,950 shares in the last quarter. Strengthening Families & Communities LLC boosted its holdings in Magna International by 9.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 35,603 shares of the company’s stock valued at $1,909,000 after purchasing an additional 2,997 shares during the period. Lorne Steinberg Wealth Management Inc. grew its position in shares of Magna International by 2.2% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 68,712 shares of the company’s stock worth $3,699,000 after purchasing an additional 1,449 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Magna International by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 144,583 shares of the company’s stock worth $7,751,000 after acquiring an additional 1,737 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Magna International by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock valued at $192,000 after acquiring an additional 312 shares during the period. 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.