Magna International (NYSE:MGA) Price Target Cut to $51.00 by Analysts at Royal Bank of Canada

Magna International (NYSE:MGA - Free Report) TSE: MG had its price objective trimmed by Royal Bank of Canada from $52.00 to $51.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

MGA has been the topic of a number of other research reports. Wolfe Research upgraded shares of Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Scotiabank cut their price target on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating on the stock in a report on Tuesday. Barclays cut their price target on shares of Magna International from $50.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday. UBS Group cut their price target on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. One equities 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, the stock currently has an average rating of "Hold" and a consensus price target of $48.88.

Magna International Stock Down 1.8 %

MGA traded down $0.71 during midday trading on Tuesday, reaching $38.05. The company's stock had a trading volume of 837,459 shares, compared to its average volume of 2,073,175. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.63 and a beta of 1.61. 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 has a 1 year low of $35.05 and a 1 year high of $56.12. The stock's 50-day moving average is $40.45 and its 200-day moving average is $41.56.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly 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. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts expect that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.485 dividend. The ex-dividend date of this dividend is 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 5.10%. Magna International's dividend payout ratio (DPR) is presently 54.13%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. ARGA Investment Management LP raised its position in Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock worth $107,049,000 after acquiring an additional 1,568,953 shares during the period. Russell Investments Group Ltd. raised its position in shares of Magna International by 52.3% during 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 during the period. Toronto Dominion Bank raised its position in shares of Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock valued at $66,810,000 after purchasing an additional 18,704 shares during the period. Geode Capital Management LLC raised its position in shares of Magna International by 32.2% during 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 during the period. Finally, Mufg Securities Canada LTD. raised its position in shares of Magna International by 72.1% during 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 during the period. 67.49% of the stock is currently owned by 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.