Magna International (NYSE:MGA – Get Rating) (TSE:MG) had its price target trimmed by Raymond James from $68.00 to $62.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.
MGA has been the subject of a number of other reports. StockNews.com upgraded shares of Magna International from a hold rating to a buy rating in a report on Wednesday, July 27th. The Goldman Sachs Group cut their price objective on shares of Magna International from $85.00 to $72.00 and set a buy rating on the stock in a report on Wednesday, June 1st. Morgan Stanley cut their price objective on shares of Magna International from $84.00 to $79.00 and set an overweight rating on the stock in a report on Thursday, July 14th. Wells Fargo & Company upped their price objective on shares of Magna International from $72.00 to $77.00 and gave the company an overweight rating in a report on Monday, July 11th. Finally, Bank of America cut their price objective on shares of Magna International from $115.00 to $106.00 and set a buy rating on the stock in a report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $78.08.
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Magna International Stock Down 1.8 %
NYSE:MGA opened at $50.04 on Tuesday. The firm has a market cap of $14.46 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.89. The company has a 50-day moving average of $59.30 and a 200 day moving average of $60.06. Magna International has a 1-year low of $49.49 and a 1-year high of $90.15.
Magna International (NYSE:MGA – Get Rating) (TSE:MG) last announced its earnings results on Friday, July 29th. The company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.10). The firm had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $8.66 billion. Magna International had a return on equity of 9.94% and a net
margin of 1.90%. As a group, research analysts anticipate that Magna International will post 4.7 EPS for the current fiscal year.
Magna International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a $0.45 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.80 annualized dividend and a yield of 3.60%. Magna International's dividend payout ratio is presently 79.65%.
Institutional Investors Weigh In On Magna International
Several hedge funds have recently bought and sold shares of MGA. CLARET ASSET MANAGEMENT Corp lifted its position in shares of Magna International by 3.2% during the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 6,825 shares of the company's stock valued at $439,000 after buying an additional 214 shares in the last quarter. Cigna Investments Inc. New lifted its position in shares of Magna International by 4.7% during the 2nd quarter. Cigna Investments Inc. New now owns 5,457 shares of the company's stock valued at $299,000 after buying an additional 243 shares in the last quarter. DGS Capital Management LLC lifted its position in shares of Magna International by 6.3% during the 1st quarter. DGS Capital Management LLC now owns 6,307 shares of the company's stock valued at $406,000 after buying an additional 374 shares in the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in shares of Magna International during the 2nd quarter valued at approximately $30,000. Finally, Quent Capital LLC lifted its position in shares of Magna International by 616.7% during the 2nd quarter. Quent Capital LLC now owns 516 shares of the company's stock valued at $28,000 after buying an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 58.45% of the company's stock.
Magna International Company Profile
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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.
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