Magna International (NYSE:MGA) Price Target Raised to $46.00 at Wells Fargo & Company

Magna International (NYSE:MGA) (TSE:MG) had its price objective upped by Wells Fargo & Company from $44.00 to $46.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on MGA. BMO Capital Markets lowered their price target on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada lowered their target price on Magna International from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 29th. TD Securities reduced their price target on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Raymond James lowered their price objective on Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th. Finally, CIBC cut their target price on shares of Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.76.

Magna International Price Performance

MGA opened at $43.16 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $12.40 billion, a P/E ratio of 11.54, a PEG ratio of 0.68 and a beta of 1.59. The stock has a 50-day moving average price of $41.37 and a 200-day moving average price of $43.02. Magna International has a 12-month low of $38.01 and a 12-month high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Equities analysts predict that Magna International will post 5.3 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.475 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.40%. Magna International’s payout ratio is 50.80%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MGA. Strengthening Families & Communities LLC increased its position in Magna International by 10.7% during the 3rd quarter. Strengthening Families & Communities LLC now owns 43,484 shares of the company’s stock valued at $1,785,000 after buying an additional 4,209 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Magna International during the third quarter valued at $32,000. Van ECK Associates Corp raised its position in shares of Magna International by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock worth $517,000 after purchasing an additional 766 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after purchasing an additional 21,532 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in Magna International during the 3rd quarter valued at about $216,000. 67.49% of the stock is currently 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.