Magna International (NYSE:MGA) Sets New 1-Year Low – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG) shares hit a new 52-week low on Monday . The company traded as low as $33.28 and last traded at $33.96, with a volume of 110337 shares trading hands. The stock had previously closed at $34.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MGA shares. Scotiabank decreased their price objective on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Raymond James decreased their price target on Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 18th. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Wells Fargo & Company decreased 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, UBS Group dropped their target price on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.03.

Magna International Trading Up 0.6 %

The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 0.63 and a beta of 1.65. The business’s 50 day moving average is $37.77 and its 200 day moving average is $40.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.32 billion. During the same period in the prior year, the firm posted $1.33 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Magna International Inc. will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.68%. The ex-dividend date was Friday, February 28th. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is currently 55.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MGA. ARGA Investment Management LP grew its holdings in shares of Magna International by 158.1% during the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after purchasing an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares during the last quarter. Geode Capital Management LLC increased its position in Magna International by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after buying an additional 371,437 shares during the period. Mufg Securities Canada LTD. lifted its stake in Magna International by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock valued at $17,228,000 after buying an additional 172,754 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Magna International by 117,113.9% in the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after acquiring an additional 84,322 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.