Magna International (NYSE:MGA) Sees Large Volume Increase

Magna International Inc. (NYSE:MGA) (TSE:MG) saw an uptick in trading volume on Monday . 862,001 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 1,031,325 shares.The stock last traded at $55.35 and had previously closed at $55.02.

A number of brokerages have weighed in on MGA. Zacks Investment Research cut shares of Magna International from a “hold” rating to a “sell” rating and set a $57.00 price target on the stock. in a research report on Friday, November 22nd. Morgan Stanley boosted their price objective on shares of Magna International from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, November 21st. Citigroup set a $63.00 price objective on shares of Magna International and gave the stock a “buy” rating in a research report on Monday, August 26th. Barclays cut their target price on shares of Magna International from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Evercore ISI restated a “hold” rating and set a $52.00 target price on shares of Magna International in a report on Sunday, August 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Magna International has an average rating of “Hold” and a consensus target price of $55.22.

The firm has a fifty day moving average of $54.77 and a 200 day moving average of $50.17. The firm has a market capitalization of $16.82 billion, a PE ratio of 8.10, a P/E/G ratio of 1.54 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.21.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 8th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.03. Magna International had a return on equity of 17.59% and a net margin of 4.43%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.32 billion. During the same quarter in the prior year, the business earned $1.56 EPS. Magna International’s quarterly revenue was down 3.1% compared to the same quarter last year. Research analysts forecast that Magna International Inc. will post 5.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.365 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.69%. Magna International’s payout ratio is currently 21.76%.

Several hedge funds have recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new stake in Magna International during the 2nd quarter valued at $34,000. Usca Ria LLC purchased a new stake in shares of Magna International during the third quarter worth about $34,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Magna International in the second quarter worth about $43,000. Riverhead Capital Management LLC lifted its stake in shares of Magna International by 25.1% in the second quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock worth $54,000 after acquiring an additional 226 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Magna International in the second quarter worth about $87,000. Institutional investors and hedge funds own 56.69% of the company’s stock.

Magna International Company Profile (NYSE:MGA)

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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