Magna International (NYSE:MGA) Hits New 1-Year Low - Here's What Happened

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $30.71 and last traded at $31.06, with a volume of 97738 shares changing hands. The stock had previously closed at $32.47.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGA shares. TD Securities decreased their price objective on shares of Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. UBS Group lowered their price target on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday. Bank of America lowered Magna International from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $52.00 to $48.00 in a report on Tuesday, March 4th. Evercore ISI cut their target price on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut their price objective on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $44.91.

Magna International Stock Performance

The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm has a market cap of $9.07 billion, a PE ratio of 9.18, a P/E/G ratio of 0.63 and a beta of 1.56. The firm has a 50-day moving average price of $36.25 and a two-hundred day moving average price of $40.19.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share 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 company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.33 earnings per share. Research analysts forecast that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.02%. This is a positive change from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio is currently 55.27%.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Magna International in the third quarter valued at $1,040,000. Geode Capital Management LLC grew its holdings in shares of Magna International by 2.9% in the third 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 in the last quarter. DGS Capital Management LLC increased its stake in Magna International by 25.5% during the 3rd quarter. DGS Capital Management LLC now owns 9,976 shares of the company's stock worth $409,000 after buying an additional 2,027 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after acquiring an additional 301 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Magna International by 88.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company's stock valued at $88,000 after purchasing an additional 992 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.