CIBC Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA - Free Report) TSE: MG had its price target raised by CIBC from $46.00 to $51.00 in a research report released on Monday,BayStreet.CA reports.

MGA has been the subject of several other reports. Wells Fargo & Company dropped their target price on Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. UBS Group raised their target price on shares of Magna International from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Wolfe Research upgraded shares of Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. StockNews.com raised shares of Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Finally, Morgan Stanley cut shares of Magna International from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $55.00 to $43.00 in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $49.88.

Magna International Price Performance

Shares of NYSE:MGA traded up $0.84 during trading on Monday, reaching $40.37. The company had a trading volume of 1,379,897 shares, compared to its average volume of 1,134,271. The company has a fifty day moving average of $43.35 and a two-hundred day moving average of $42.29. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $11.42 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 0.81 and a beta of 1.62. Magna International has a 12 month low of $38.01 and a 12 month high of $59.37.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. Equities research analysts forecast that Magna International will post 5.22 earnings per share for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.475 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.71%. Magna International's payout ratio is currently 50.80%.

Institutional Investors Weigh In On Magna International

Several large investors have recently bought and sold shares of the business. JARISLOWSKY FRASER Ltd increased its position in Magna International by 5.9% during the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company's stock valued at $299,543,000 after acquiring an additional 395,745 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock valued at $66,810,000 after purchasing an additional 18,704 shares during the period. Geode Capital Management LLC increased its position in shares of Magna International by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company's stock valued at $46,799,000 after purchasing an additional 32,000 shares during the last quarter. ARGA Investment Management LP purchased a new position in shares of Magna International in the third quarter worth approximately $40,710,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Magna International by 11.4% in the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company's stock worth $8,644,000 after buying an additional 21,532 shares during the last quarter. 67.49% of the stock is currently owned by 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.