Magna International (NYSE:MGA) Downgraded by The Goldman Sachs Group to Sell

The Goldman Sachs Group downgraded shares of Magna International (NYSE:MGA - Free Report) TSE: MG from a neutral rating to a sell rating in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have $41.00 target price on the stock, down from their prior target price of $42.00.

A number of other equities analysts also recently weighed in on MGA. Morgan Stanley downgraded shares of Magna International from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $55.00 to $43.00 in a report on Wednesday, September 25th. Scotiabank boosted their price objective on shares of Magna International from $50.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Monday, November 4th. Royal Bank of Canada dropped their target price on shares of Magna International from $42.00 to $41.00 and set a "sector perform" rating on the stock in a report on Monday, November 4th. UBS Group lifted their price target on Magna International from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Finally, StockNews.com upgraded Magna International from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $49.76.

Magna International Stock Down 1.5 %

Shares of Magna International stock traded down $0.67 during trading hours on Wednesday, reaching $45.04. 1,811,780 shares of the company's stock were exchanged, compared to its average volume of 1,615,406. The stock has a market cap of $12.94 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.83 and a beta of 1.61. The company has a 50 day moving average of $43.05 and a two-hundred day moving average of $42.50. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate 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 net margin of 2.52% and a return on equity of 11.88%. The business's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. On average, sell-side analysts forecast that Magna International will post 5.22 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Friday, November 15th. Magna International's dividend payout ratio is currently 50.80%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MGA. Quantbot Technologies LP boosted its stake in shares of Magna International by 12.5% in the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock valued at $6,128,000 after buying an additional 16,639 shares during the period. Toronto Dominion Bank lifted its position in shares of Magna International by 1.9% during the 2nd quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company's stock valued at $67,426,000 after acquiring an additional 30,361 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Magna International by 117,113.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company's stock valued at $3,464,000 after acquiring an additional 84,322 shares during the period. Millennium Management LLC grew its holdings in shares of Magna International by 135.5% during the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company's stock worth $6,818,000 after purchasing an additional 93,637 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd increased its position in shares of Magna International by 5.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company's stock worth $299,543,000 after purchasing an additional 395,745 shares during the period. 67.49% of the stock is 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.