Evercore ISI Cuts Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its price target reduced by Evercore ISI from $50.00 to $45.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other equities analysts have also weighed in on MGA. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Scotiabank cut their price target on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. CIBC upped their price objective on shares of Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Wells Fargo & Company cut their target price on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Finally, TD Securities reduced their price target on Magna International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.88.

Magna International Trading Up 1.5 %

NYSE MGA opened at $38.72 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a 1-year low of $35.05 and a 1-year high of $56.12. The firm’s fifty day simple moving average is $40.57 and its 200-day simple moving average is $41.55. The company has a market capitalization of $10.92 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The firm had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a return on equity of 12.71% and a net margin of 2.36%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, sell-side analysts anticipate that Magna International will post 6.04 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.485 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 5.01%. Magna International’s dividend payout ratio (DPR) is presently 55.27%.

Hedge Funds Weigh In On Magna International

Large investors have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. lifted its position in shares of Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after acquiring an additional 276 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after purchasing an additional 312 shares in the last quarter. Avior Wealth Management LLC lifted its position in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares during the period. Finally, LRI Investments LLC boosted its stake in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 723 shares in the last quarter. 67.49% of the stock is currently 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.