Morgan Stanley Lowers Magna International (NYSE:MGA) Price Target to $40.00

Magna International (NYSE:MGA - Free Report) TSE: MG had its price objective reduced by Morgan Stanley from $43.00 to $40.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. CIBC boosted their price objective on shares of Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Royal Bank of Canada dropped their price objective 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. Wolfe Research raised shares of Magna International from an "underperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. Scotiabank dropped their price objective on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 18th. Finally, Barclays dropped their price objective on shares of Magna International from $50.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Magna International has a consensus rating of "Hold" and an average target price of $48.71.

Magna International Stock Performance

Shares of Magna International stock traded down $1.08 during trading on Monday, reaching $35.35. The company's stock had a trading volume of 1,749,880 shares, compared to its average volume of 1,779,505. The company has a 50-day moving average price of $39.96 and a two-hundred day moving average price of $41.54. The firm has a market cap of $9.97 billion, a PE ratio of 10.07, a P/E/G ratio of 0.63 and a beta of 1.61. Magna International has a fifty-two week low of $35.05 and a fifty-two week high of $56.12. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

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, beating analysts' consensus estimates of $1.46 by $0.23. The business 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%. The company's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. On average, analysts forecast that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.485 dividend. The ex-dividend date is Friday, February 28th. This is a positive change from Magna International's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 5.49%. Magna International's payout ratio is currently 55.27%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently made changes to their positions in the business. ARGA Investment Management LP lifted its holdings in Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock valued at $107,049,000 after purchasing an additional 1,568,953 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock valued at $100,087,000 after purchasing an additional 822,375 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Magna International by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock valued at $63,280,000 after purchasing an additional 371,437 shares in the last quarter. Mufg Securities Canada LTD. lifted its holdings in Magna International by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock valued at $17,228,000 after purchasing an additional 172,754 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Magna International by 117,113.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company's stock valued at $3,464,000 after purchasing an additional 84,322 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.