TD Securities Lowers Magna International (NYSE:MGA) Price Target to $47.00

Magna International (NYSE:MGA - Free Report) TSE: MG had its target price lowered by TD Securities from $50.00 to $47.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on MGA. CIBC raised their price target on Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Barclays lowered 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. StockNews.com raised Magna International from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. UBS Group lowered 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. Finally, Royal Bank of Canada upgraded shares of Magna International from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $41.00 to $52.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Magna International presently has an average rating of "Hold" and an average target price of $48.88.

Magna International Stock Down 1.8 %

Magna International stock traded down $0.71 during mid-day trading on Tuesday, hitting $38.05. 837,459 shares of the company's stock were exchanged, compared to its average volume of 2,073,175. 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 stock has a market cap of $10.74 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.63 and a beta of 1.61. Magna International has a 1-year low of $35.05 and a 1-year high of $56.12. The stock has a 50 day moving average of $40.45 and a two-hundred day moving average of $41.54.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, February 14th. The company reported $1.69 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 net margin of 2.36% and a return on equity of 12.78%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, analysts anticipate that Magna International will post 5.87 EPS for the current fiscal 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 issued a dividend of $0.485 per share. This is a positive change from Magna International's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 5.10%. Magna International's dividend payout ratio (DPR) is presently 54.13%.

Institutional Trading of Magna International

Several hedge funds have recently modified their holdings of MGA. Avior Wealth Management LLC increased its holdings in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock worth $26,000 after buying an additional 600 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Magna International during the third quarter worth approximately $32,000. LRI Investments LLC increased its holdings in shares of Magna International by 2,126.5% during the fourth 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 stake in shares of Magna International during the fourth quarter worth approximately $33,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after buying an additional 312 shares in the last quarter. Institutional investors and hedge funds 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.