Magna International (NYSE:MGA) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Magna International (NYSE:MGA - Free Report) TSE: MG from a sector perform rating to an outperform rating in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage currently has $52.00 price target on the stock, up from their previous price target of $41.00.

A number of other brokerages also recently issued reports on MGA. Wolfe Research raised Magna International from an "underperform" rating to a "peer perform" rating in a research report on Thursday, December 5th. StockNews.com raised Magna International from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. CIBC increased their price target on Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. The Goldman Sachs Group downgraded Magna International from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. Finally, TD Securities cut their target price on Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Magna International presently has a consensus rating of "Hold" and a consensus target price of $50.53.

Magna International Stock Performance

Shares of Magna International stock traded up $0.96 on Friday, hitting $41.16. The stock had a trading volume of 1,209,404 shares, compared to its average volume of 1,145,169. Magna International has a twelve month low of $38.01 and a twelve month high of $59.37. The business's 50 day moving average is $42.90 and its two-hundred day moving average is $42.20. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.63 and a beta of 1.62.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company's quarterly 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. Analysts forecast that Magna International will post 5.22 EPS for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Friday, November 15th. Magna International's payout ratio is 50.80%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its position in 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 last quarter. Kennebec Savings Bank bought a new position in Magna International during the 3rd quarter worth $32,000. Grove Bank & Trust raised its position in Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock worth $34,000 after purchasing an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company's stock worth $46,000 after purchasing an additional 513 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in 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 worth $46,000 after purchasing an additional 301 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.