Royal Bank of Canada Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price target lowered by Royal Bank of Canada from $52.00 to $51.00 in a report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on MGA. Scotiabank cut their price target on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday. UBS Group cut their price target on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Barclays cut their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and cut their price target for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.88.

Magna International Stock Up 1.5 %

MGA stock opened at $38.72 on Tuesday. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.60 and a beta of 1.61. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12. The firm has a 50-day moving average of $40.57 and a two-hundred day moving average of $41.55.

Magna International (NYSE:MGA) (TSE:MG) last released 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. The company had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.71%. Magna International’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. As a group, analysts forecast that Magna International will post 6.04 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio (DPR) is currently 55.27%.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its position 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 period. Kennebec Savings Bank purchased a new stake in shares of Magna International during the 3rd quarter worth $32,000. LRI Investments LLC lifted its position in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after purchasing an additional 723 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Magna International during the 4th quarter worth $33,000. Finally, Lindbrook Capital LLC lifted its position in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors 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.