Magna International Inc. (NYSE:MGA) Short Interest Update

Magna International Inc. (NYSE:MGA) (TSE:MG) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 9,460,000 shares, an increase of 57.4% from the January 31st total of 6,010,000 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,660,000 shares, the short-interest ratio is currently 5.7 days.

Magna International Stock Down 3.2 %

Shares of NYSE MGA traded down $1.14 during trading on Tuesday, hitting $34.20. 2,593,673 shares of the company traded hands, compared to its average volume of 1,643,453. The business’s fifty day moving average is $39.82 and its 200 day moving average is $41.50. Magna International has a fifty-two week low of $33.31 and a fifty-two week high of $56.12. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 0.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is currently 55.27%.

Wall Street Analyst Weigh In

MGA has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday. Barclays lowered their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. UBS Group reduced their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Raymond James reduced their price objective on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.88.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank raised its holdings in shares of Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after acquiring an additional 18,704 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after acquiring an additional 16,639 shares during the last quarter. DGS Capital Management LLC raised its holdings in shares of Magna International by 111.0% in the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock worth $880,000 after acquiring an additional 11,072 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after acquiring an additional 32,000 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after acquiring an additional 301 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.