Magna International (NYSE:MGA) Given New $44.00 Price Target at Wells Fargo & Company

Magna International (NYSE:MGA) (TSE:MG) had its price objective trimmed by Wells Fargo & Company from $46.00 to $44.00 in a report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Scotiabank increased their price objective on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Monday, November 4th. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Royal Bank of Canada lowered their target price on Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. Finally, UBS Group boosted their price target on Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.65.

Magna International Stock Down 1.2 %

MGA stock opened at $43.75 on Monday. The stock has a market capitalization of $12.57 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The business has a fifty day moving average price of $43.34 and a 200-day moving average price of $42.49.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). The business had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. Magna International’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Equities analysts forecast that Magna International will post 5.22 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Friday, November 15th. Magna International’s dividend payout ratio (DPR) is 50.80%.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently bought and sold shares of the business. JARISLOWSKY FRASER Ltd grew its holdings in Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after buying an additional 395,745 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after acquiring an additional 18,704 shares during the last quarter. Geode Capital Management LLC grew its stake in Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after acquiring an additional 32,000 shares in the last quarter. ARGA Investment Management LP bought a new stake in Magna International in the 3rd quarter valued at $40,710,000. Finally, Janney Montgomery Scott LLC lifted its stake in Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after purchasing an additional 21,532 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.