Wells Fargo & Company Cuts Magna International (NYSE:MGA) Price Target to $49.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by Wells Fargo & Company from $52.00 to $49.00 in a research note released on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research analysts have also weighed in on MGA. CIBC reduced their price objective on Magna International from $61.00 to $59.00 and set a neutral rating for the company in a research note on Friday, April 19th. StockNews.com raised shares of Magna International from a hold rating to a buy rating in a research report on Thursday, May 2nd. TD Securities lowered their price objective on shares of Magna International from $69.00 to $63.00 and set a buy rating on the stock in a research report on Monday, April 22nd. UBS Group upped their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. Finally, Barclays decreased their target price on shares of Magna International from $63.00 to $62.00 and set an equal weight rating for the company in a research note on Thursday, April 11th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $60.00.

Magna International Stock Performance

Shares of MGA opened at $46.85 on Monday. The company has a 50-day moving average of $51.87 and a two-hundred day moving average of $53.92. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a one year low of $45.99 and a one year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a return on equity of 12.97% and a net margin of 2.35%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Magna International will post 6.13 earnings per share for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 16th. Magna International’s dividend payout ratio is 53.98%.

Institutional Investors Weigh In On Magna International

A number of large investors have recently added to or reduced their stakes in the stock. S.A. Mason LLC raised its position in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares during the period. Van ECK Associates Corp raised its holdings in Magna International by 9.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after acquiring an additional 312 shares during the period. UMB Bank n.a. raised its holdings in Magna International by 13.0% in the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after acquiring an additional 350 shares during the period. Sunbelt Securities Inc. lifted its position in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares during the last quarter. Institutional investors 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.