Morgan Stanley Cuts Magna International (NYSE:MGA) Price Target to $40.00

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by Morgan Stanley from $43.00 to $40.00 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on MGA. Scotiabank lowered their target price on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada lowered their target price on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. TD Securities lowered their target price on shares of Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, Barclays lowered their target price on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus target price of $47.03.

Magna International Stock Up 8.0 %

MGA stock opened at $36.86 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Magna International has a twelve month low of $33.30 and a twelve month high of $56.12. The company’s 50 day moving average is $39.66 and its two-hundred day moving average is $41.45. The stock has a market cap of $10.40 billion, a P/E ratio of 10.50, a PEG ratio of 0.63 and a beta of 1.65.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company had revenue of $10.63 billion for the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.94 dividend on an annualized basis and a yield of 5.26%. This is an increase from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio (DPR) is 55.27%.

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in Magna International by 1.2% in the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after acquiring an additional 18,704 shares during the period. Quantbot Technologies LP raised its stake in shares of Magna International by 12.5% during the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after buying an additional 16,639 shares during the last quarter. DGS Capital Management LLC raised its stake in shares of Magna International by 111.0% during the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock worth $880,000 after buying an additional 11,072 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Magna International by 35.5% during the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock worth $4,719,000 after buying an additional 29,567 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Magna International by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after buying an additional 32,000 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.