Magna International (NYSE:MGA) Sets New 12-Month Low - Here's Why

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG's stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $33.28 and last traded at $33.96, with a volume of 110337 shares changing hands. The stock had previously closed at $34.00.

Analysts Set New Price Targets

A number of research analysts have recently commented on MGA shares. Raymond James reduced their target price on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada cut their price objective on shares of Magna International from $52.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group lowered Magna International from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their target price on Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, December 16th. Finally, Evercore ISI dropped their price target on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $47.03.

Magna International Stock Performance

The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.63 and a beta of 1.56. The company's 50 day simple moving average is $37.52 and its 200 day simple moving average is $40.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced 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 analysts' expectations of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 earnings per share. On average, equities research analysts anticipate that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.96%. This is an increase from Magna International's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, February 28th. Magna International's dividend payout ratio is presently 55.27%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in shares of Magna International during the 1st quarter valued at $27,000. Public Employees Retirement System of Ohio boosted its position in shares of Magna International by 99.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company's stock valued at $2,108,000 after purchasing an additional 25,142 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Magna International by 19.9% in the fourth quarter. Systematic Financial Management LP now owns 48,845 shares of the company's stock worth $2,041,000 after buying an additional 8,100 shares during the period. LRI Investments LLC raised 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 valued at $32,000 after acquiring an additional 723 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Magna International by 9.0% during the fourth quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company's stock valued at $2,010,000 after acquiring an additional 3,956 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

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.