Magna International (NYSE:MGA) Sees Strong Trading Volume - Here's Why

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG saw unusually-strong trading volume on Monday . Approximately 5,656,140 shares traded hands during mid-day trading, an increase of 218% from the previous session's volume of 1,776,610 shares.The stock last traded at $31.53 and had previously closed at $32.25.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MGA. Barclays cut their target price on shares of Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. TD Securities dropped their price objective on shares of Magna International from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Raymond James decreased their price objective on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, February 18th. Bank of America lowered Magna International from a "buy" rating to a "neutral" rating and dropped their target price for the company from $52.00 to $48.00 in a report on Tuesday, March 4th. Finally, UBS Group decreased their price target on Magna International from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Magna International currently has a consensus rating of "Hold" and an average target price of $44.32.

Magna International Stock Down 1.1 %

The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.63 and a beta of 1.56. 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 business has a 50-day simple moving average of $35.60 and a two-hundred day simple moving average of $39.86.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. Magna International's revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. As a group, equities analysts predict that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.485 dividend. This is a boost from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 6.08%. The ex-dividend date was Friday, February 28th. Magna International's dividend payout ratio (DPR) is currently 55.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC grew 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. Versant Capital Management Inc acquired a new position in Magna International during the first quarter worth about $27,000. LRI Investments LLC increased its holdings in Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $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 4th quarter valued at approximately $33,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after acquiring an additional 312 shares during the period. 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.

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