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

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG hit a new 52-week low on Monday . The company 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.

Analyst Upgrades and Downgrades

Several research firms have commented on MGA. Royal Bank of Canada decreased their price target on shares of Magna International from $52.00 to $51.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 18th. TD Securities lowered their price target on shares of Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Evercore ISI decreased their price objective on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a report on Tuesday, February 18th. UBS Group dropped their target price on Magna International from $44.00 to $41.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Raymond James decreased their price target on Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $47.03.

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Magna International Price Performance

The company has a market cap of $9.67 billion, a PE ratio of 9.79, a PEG ratio of 0.63 and a beta of 1.65. The firm's 50-day moving average is $37.77 and its 200-day moving average is $40.80. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35.

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 for the quarter, topping analysts' consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. Magna International's revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate 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. Shareholders of record on Friday, February 28th were given a $0.485 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 5.65%. Magna International's dividend payout ratio (DPR) is presently 55.27%.

Institutional Trading of Magna International

Several hedge funds have recently bought and sold shares of MGA. 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 valued at $26,000 after acquiring an additional 600 shares during the period. LRI Investments LLC boosted its position in shares of Magna International by 2,126.5% in the fourth 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. Millstone Evans Group LLC purchased a new stake in shares of Magna International in the fourth quarter worth $33,000. Lindbrook Capital LLC raised its position 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 valued at $43,000 after purchasing an additional 312 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted 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 valued at $46,000 after buying an additional 301 shares in the last quarter. Institutional investors own 67.49% of the company's stock.

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.