TD Securities Cuts Magna International (NYSE:MGA) Price Target to $63.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by TD Securities from $69.00 to $63.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. TD Securities currently has a buy rating on the stock.

MGA has been the topic of several other research reports. Scotiabank reduced their target price on shares of Magna International from $62.00 to $59.00 and set a sector perform rating on the stock in a research note on Monday, February 12th. Evercore downgraded shares of Magna International from an outperform rating to an in-line rating and reduced their target price for the company from $75.00 to $62.00 in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Magna International from $69.00 to $71.00 and gave the stock an overweight rating in a research report on Monday. Royal Bank of Canada reduced their price target on shares of Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Finally, Wells Fargo & Company reduced their price target on shares of Magna International from $60.00 to $54.00 and set an equal weight rating on the stock in a research report on Monday, February 12th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magna International currently has a consensus rating of Hold and an average price target of $62.50.

Magna International Stock Performance

Shares of NYSE:MGA opened at $49.20 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The business’s fifty day moving average price is $53.01 and its two-hundred day moving average price is $54.22. Magna International has a fifty-two week low of $46.71 and a fifty-two week high of $65.27. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.50 and a beta of 1.69.

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

Magna International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This is a boost from Magna International’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 22nd. Magna International’s payout ratio is currently 45.02%.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently modified their holdings of MGA. Sunbelt Securities Inc. increased its stake in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Magna International in the 1st quarter valued at about $49,000. S.A. Mason LLC increased its stake in shares of Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

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.