Magna International (NYSE:MGA) PT Lowered to $57.00 at National Bankshares

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by National Bankshares from $60.00 to $57.00 in a report released on Monday morning, BayStreet.CA reports. National Bankshares currently has a market perform rating on the stock.

A number of other equities analysts have also recently issued reports on MGA. UBS Group lifted their target price on shares of Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a research report on Wednesday, January 17th. Royal Bank of Canada lowered their price target on shares of Magna International from $61.00 to $60.00 and set a sector perform rating for the company in a report on Monday, February 12th. Barclays lowered their price target on shares of Magna International from $62.00 to $60.00 and set an equal weight rating for the company in a report on Monday. The Goldman Sachs Group lowered their price target on shares of Magna International from $56.00 to $48.00 and set a neutral rating for the company in a report on Monday. Finally, StockNews.com upgraded shares of Magna International from a hold rating to a buy rating in a report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $60.00.

Magna International Stock Up 1.0 %

Shares of NYSE MGA opened at $47.08 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. The firm has a 50-day moving average price of $51.55 and a 200 day moving average price of $53.84. Magna International has a 52 week low of $45.75 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 EPS. Equities research analysts anticipate that Magna International will post 6.13 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.90 annualized dividend and a yield of 4.04%. Magna International’s dividend payout ratio is presently 53.98%.

Institutional Trading of Magna International

Several institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its holdings in shares of Magna International by 58.2% during the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock worth $525,968,000 after purchasing an additional 3,609,429 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Magna International by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after purchasing an additional 289,105 shares during the period. Toronto Dominion Bank raised its holdings 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 worth $105,430,000 after purchasing an additional 157,808 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings 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 worth $50,921,000 after purchasing an additional 147,950 shares during the period. Finally, QV Investors Inc. grew its position 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 worth $39,202,000 after acquiring an additional 113,332 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

About Magna International

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.