The Goldman Sachs Group Trims Magna International (NYSE:MGA) Target Price to $48.00

Magna International (NYSE:MGA) (TSE:MG) had its price target trimmed by The Goldman Sachs Group from $56.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on MGA. JPMorgan Chase & Co. raised their price target on shares of Magna International from $69.00 to $71.00 and gave the company an overweight rating in a research report on Monday, April 22nd. UBS Group boosted their target price on Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Raymond James decreased their price target on Magna International from $62.00 to $60.00 and set a market perform rating for the company in a research report on Monday, February 12th. Citigroup decreased their target price on Magna International from $60.00 to $57.00 and set a neutral rating for the company in a research report on Monday, February 12th. Finally, StockNews.com raised Magna International from a hold rating to a buy rating in a research report on Thursday, May 2nd. Eleven equities research 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, the company currently has an average rating of Hold and a consensus target price of $60.00.

Magna International Stock Performance

Shares of MGA opened at $47.08 on Monday. The firm has a market capitalization of $13.53 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.47 and a beta of 1.69. Magna International has a 52 week low of $45.75 and a 52 week high of $65.27. The stock has a 50 day moving average price of $51.55 and a two-hundred day moving average price of $53.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) 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 company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter last year, the company posted $1.11 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that Magna International will post 6.13 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a yield of 4.04%. Magna International’s payout ratio is 53.98%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. boosted 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 purchasing an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted 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. purchased a new stake in Magna International during the 1st quarter valued at about $49,000. S.A. Mason LLC grew its position in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the period. 67.49% of the stock is owned by hedge funds and other 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.