Magna International (NYSE:MGA) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other equities analysts have also issued reports on the stock. TD Securities lowered their target price on shares of Magna International from $73.00 to $69.00 and set a buy rating on the stock in a research report on Monday, February 12th. The Goldman Sachs Group downgraded Magna International from a buy rating to a neutral rating and decreased their price target for the stock from $73.00 to $58.00 in a report on Wednesday, January 3rd. Citigroup decreased their price target on Magna International from $60.00 to $57.00 and set a neutral rating for the company in a report on Monday, February 12th. Royal Bank of Canada decreased their price target on Magna International from $61.00 to $60.00 and set a sector perform rating for the company in a report on Monday, February 12th. Finally, BMO Capital Markets decreased their price target on Magna International from $67.00 to $65.00 and set an outperform rating for the company in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $62.79.

Magna International Stock Performance

Shares of MGA opened at $48.35 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The firm has a market cap of $13.89 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.48 and a beta of 1.69. The company’s 50 day simple moving average is $53.22 and its 200-day simple moving average is $54.24. Magna International has a 12-month low of $46.71 and a 12-month high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The business had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. As a group, equities analysts predict that Magna International will post 6.11 EPS for the current year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.90 dividend on an annualized basis and a yield of 3.93%. This is an increase from Magna International’s previous quarterly dividend of $0.46. Magna International’s dividend payout ratio (DPR) is 45.02%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MGA. Thomas White International Ltd. raised its stake in shares of Magna International by 8.6% during the 1st quarter. Thomas White International Ltd. now owns 13,142 shares of the company’s stock worth $845,000 after buying an additional 1,043 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Magna International during the 1st quarter worth $2,036,000. Power Corp of Canada acquired a new position in shares of Magna International during the 1st quarter worth $574,000. BNP Paribas Arbitrage SA raised its stake in shares of Magna International by 549.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,177 shares of the company’s stock worth $1,683,000 after buying an additional 22,147 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC raised its stake in shares of Magna International by 272.2% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 72,430 shares of the company’s stock worth $3,435,000 after buying an additional 52,971 shares during the last quarter. Institutional investors and hedge funds 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.