Magna International (NYSE:MGA) Price Target Cut to $54.00 by Analysts at CIBC

Magna International (NYSE:MGA) (TSE:MG) had its target price reduced by CIBC from $59.00 to $54.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. UBS Group raised their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. lifted their target price on Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Citigroup dropped their price target on shares of Magna International from $60.00 to $57.00 and set a neutral rating on the stock in a research report on Monday, February 12th. Evercore lowered shares of Magna International from an outperform rating to an in-line rating and reduced their price objective for the company from $75.00 to $62.00 in a research report on Monday, April 15th. Finally, StockNews.com upgraded shares of Magna International from a hold rating to a buy rating in a report on Thursday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magna International presently has a consensus rating of Hold and an average price target of $60.00.

Magna International Trading Up 0.6 %

NYSE:MGA opened at $46.85 on Monday. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. Magna International has a 1 year low of $45.99 and a 1 year high of $65.27. The business has a fifty day moving average of $51.87 and a 200-day moving average of $53.92.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). The company had revenue of $10.97 billion during 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 for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 EPS. Equities analysts predict that Magna International will post 6.13 earnings per share for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, May 16th. Magna International’s payout ratio is currently 53.98%.

Institutional Investors Weigh In On Magna International

A number of large investors have recently bought and sold shares of MGA. Sunbelt Securities Inc. lifted its holdings in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Magna International during the 1st quarter valued at approximately $49,000. S.A. Mason LLC grew its holdings in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after buying an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after buying an additional 879 shares during the period. 67.49% of the stock is currently owned by institutional investors.

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.