Magna International (NYSE:MGA) Price Target Raised to $69.00

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by Morgan Stanley from $65.00 to $69.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

MGA has been the topic of several other research reports. Wells Fargo & Company lifted their price target on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada upped their price objective on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Citigroup increased their price objective on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce dropped their target price on Magna International to $74.00 in a research report on Monday, May 4th. Finally, Scotiabank boosted their target price on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.20.

Magna International Stock Down 0.9%

Shares of MGA stock opened at $70.34 on Tuesday. Magna International has a 12-month low of $43.11 and a 12-month high of $71.99. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average of $66.94 and a 200-day moving average of $62.63. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 0.77 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.53 by $0.33. The business had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, equities research analysts predict that Magna International will post 7.07 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 2.8%. Magna International’s payout ratio is 71.74%.

Hedge Funds Weigh In On Magna International

Hedge funds have recently modified their holdings of the stock. ARGA Investment Management LP raised its holdings in shares of Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after purchasing an additional 44,996 shares during the period. Geode Capital Management LLC lifted its position in shares of Magna International by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after buying an additional 154,710 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Magna International by 7.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after buying an additional 151,819 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after acquiring an additional 107,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Magna International by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after acquiring an additional 13,439 shares during the period. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.