Magna International (NYSE:MGA) Price Target Lowered to $63.00 at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by TD Securities from $69.00 to $63.00 in a research note released on Monday, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Scotiabank lowered their price objective on Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their price objective on Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a research report on Monday. CIBC lowered their price objective on Magna International from $61.00 to $59.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Citigroup decreased their price target on Magna International from $60.00 to $57.00 and set a neutral rating on the stock in a research report on Monday, February 12th. Finally, Raymond James decreased their price target on Magna International from $62.00 to $60.00 and set a market perform rating on the stock in a research report on Monday, February 12th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Magna International has a consensus rating of Hold and an average target price of $62.50.

Magna International Stock Down 1.1 %

MGA opened at $48.69 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The stock has a market cap of $13.99 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.49 and a beta of 1.69. The stock’s fifty day simple moving average is $52.91 and its 200 day simple moving average is $54.18. Magna International has a 1-year low of $46.71 and a 1-year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). The firm had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts expect that Magna International will post 6.13 earnings per share for the current year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.475 dividend. The ex-dividend date was Thursday, February 22nd. This is a positive change from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.90%. Magna International’s dividend payout ratio (DPR) is 45.02%.

Institutional Trading of Magna International

Several large investors have recently bought and sold shares of MGA. Pzena Investment Management LLC boosted its stake in Magna International by 58.2% in the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after buying an additional 3,609,429 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Magna International by 8.7% during the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after purchasing an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Magna International by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after purchasing an additional 147,950 shares in the last quarter. QV Investors Inc. boosted its stake in shares of Magna International by 20.7% during the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock valued at $39,202,000 after purchasing an additional 113,332 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its stake in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after purchasing an additional 53,695 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.