UBS Group Increases Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its price target lifted by UBS Group from $44.00 to $45.00 in a research note released on Monday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

MGA has been the topic of a number of other research reports. The Goldman Sachs 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, October 1st. Barclays reduced their price target on shares of Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Wolfe Research restated an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. Evercore ISI lowered their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Finally, TD Securities lowered their price target on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.76.

Magna International Stock Down 0.1 %

Shares of Magna International stock traded down $0.06 during midday trading on Monday, hitting $42.08. The company had a trading volume of 127,381 shares, compared to its average volume of 1,581,692. The company has a 50 day moving average of $41.33 and a 200 day moving average of $43.07. The stock has a market capitalization of $12.09 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.67 and a beta of 1.59. Magna International has a 52-week low of $38.01 and a 52-week high of $60.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.12.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share 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 the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 12.03%. Magna International’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, equities analysts predict that Magna International will post 5.4 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 4.52%. Magna International’s dividend payout ratio is currently 50.80%.

Institutional Trading of Magna International

A number of hedge funds have recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC boosted its stake in shares of Magna International by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after purchasing an additional 319 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of 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 boosted its position in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares in the last quarter. LRI Investments LLC purchased a new position in Magna International in the first quarter valued at about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Magna International in the second quarter worth about $28,000. 67.49% of the stock is 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.