Evercore ISI Cuts Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA - Free Report) TSE: MG had its target price lowered by Evercore ISI from $50.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an in-line rating on the stock.

MGA has been the topic of several other research reports. Wolfe Research upgraded shares of Magna International from an "underperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. TD Securities dropped their price target on shares of Magna International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company dropped their price target 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. Barclays dropped their price target on shares of Magna International from $50.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, CIBC lifted their price target on shares of Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $48.88.

Magna International Stock Down 1.8 %

Shares of NYSE:MGA traded down $0.71 during trading on Tuesday, reaching $38.05. 837,459 shares of the stock traded hands, compared to its average volume of 2,073,175. The stock has a 50-day moving average of $40.45 and a two-hundred day moving average of $41.54. Magna International has a 52-week low of $35.05 and a 52-week high of $56.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a market cap of $10.74 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.63 and a beta of 1.61.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results 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. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. During the same quarter last year, the company posted $1.33 earnings per share. The firm's quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.10%. Magna International's payout ratio is currently 54.13%.

Hedge Funds Weigh In On Magna International

A number of large investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. boosted its stake in shares of Magna International by 3.6% during the 4th 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 period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock worth $46,000 after purchasing an additional 301 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Magna International by 43.1% during the 4th 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 period. Avior Wealth Management LLC boosted its stake in shares of Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock worth $26,000 after purchasing an additional 600 shares during the period. Finally, 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 purchasing an additional 723 shares during the period. 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.