Magna International Inc. (NYSE:MGA) Receives $61.73 Consensus Target Price from Brokerages

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $61.7333.

A number of brokerages have recently commented on MGA. Barclays lifted their price objective on Magna International from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 17th. Raymond James Financial raised their price target on Magna International from $50.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 17th. Wells Fargo & Company lifted their price target on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Bank of America began coverage on shares of Magna International in a research note on Wednesday, March 4th. They set a “buy” rating for the company. Finally, TD Securities increased their price objective on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th.

Magna International Stock Performance

Shares of MGA opened at $54.13 on Monday. Magna International has a 1 year low of $30.39 and a 1 year high of $69.94. The company’s 50 day simple moving average is $57.89 and its 200 day simple moving average is $51.89. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 18.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.87 and a current ratio of 1.25.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 13th. The company reported $2.18 EPS for the quarter, topping the consensus estimate of $1.81 by $0.37. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The firm had revenue of $10.74 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the previous year, the company earned $1.69 EPS. Magna International’s revenue for the quarter was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, sell-side analysts predict that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 3.7%. This is a positive change from Magna International’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, February 27th. Magna International’s dividend payout ratio (DPR) is currently 67.12%.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its stake in shares of Magna International by 19.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after buying an additional 1,123 shares during the period. Bank of New York Mellon Corp raised its position in shares of Magna International by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,557 shares of the company’s stock worth $9,828,000 after buying an additional 2,057 shares during the period. Geode Capital Management LLC boosted its holdings in Magna International by 20.2% in the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after acquiring an additional 338,470 shares during the last quarter. Western Wealth Management LLC acquired a new position in Magna International in the second quarter valued at $249,000. Finally, Mediolanum International Funds Ltd purchased a new stake in Magna International during the second quarter valued at about $4,618,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

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.