Magna International Inc. (NYSE:MGA) Short Interest Update

Magna International Inc. (NYSE:MGA) (TSE:MG) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 7,400,000 shares, a decline of 53.3% from the February 28th total of 15,830,000 shares. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 2.8% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities analysts recently commented on MGA shares. CIBC decreased their price objective on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Evercore ISI lowered their price target on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. Barclays reduced their price objective on Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their target price on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Finally, Royal Bank of Canada reduced their price target on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.03.

Institutional Inflows and Outflows

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

Magna International Stock Down 2.8 %

Magna International stock traded down $0.98 during mid-day trading on Friday, hitting $34.00. 1,654,827 shares of the company’s stock were exchanged, compared to its average volume of 1,720,084. Magna International has a 1-year low of $33.30 and a 1-year high of $54.36. The stock has a 50 day moving average of $38.03 and a two-hundred day moving average of $40.87. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market cap of $9.58 billion, a P/E ratio of 9.69, a P/E/G ratio of 0.63 and a beta of 1.65.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.485 per share. This is an increase from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Friday, February 28th. Magna International’s dividend payout ratio is currently 55.27%.

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.