Wells Fargo & Company Increases Magna International (NYSE:MGA) Price Target to $44.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective increased by Wells Fargo & Company from $43.00 to $44.00 in a research note released on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on MGA. Royal Bank of Canada lowered their price objective on shares of Magna International from $57.00 to $47.00 and set a sector perform rating for the company in a research report on Tuesday, August 13th. Evercore lowered their price target on Magna International from $60.00 to $50.00 and set an in-line rating on the stock in a report on Monday, July 15th. Morgan Stanley decreased their target price on shares of Magna International from $60.00 to $55.00 and set an overweight rating for the company in a research note on Wednesday, August 14th. CIBC dropped their target price on Magna International from $50.00 to $47.00 and set a neutral rating on the stock in a research report on Tuesday, August 6th. Finally, BNP Paribas upgraded shares of Magna International from a neutral rating to an outperform rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Magna International currently has an average rating of Hold and an average target price of $51.12.

Magna International Stock Up 0.4 %

MGA stock opened at $42.15 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The firm has a market capitalization of $12.11 billion, a PE ratio of 11.97, a P/E/G ratio of 0.60 and a beta of 1.59. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The company’s 50 day simple moving average is $41.52 and its 200-day simple moving average is $45.38.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the company earned $1.50 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities analysts expect that Magna International will post 5.58 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Friday, August 16th. Magna International’s payout ratio is 53.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after acquiring an additional 319 shares during the period. UMB Bank n.a. boosted its stake in shares of Magna International by 13.0% in the first quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock valued at $165,000 after buying an additional 350 shares during the period. Sunbelt Securities Inc. increased its stake in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the period. LRI Investments LLC bought a new position in Magna International during the 1st quarter worth $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International in the 2nd quarter valued at $28,000. Institutional investors own 67.49% of the company’s stock.

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.