Magna International (NYSE:MGA) Price Target Raised to $74.00

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by Scotiabank from $72.00 to $74.00 in a research note published on Monday morning, MarketBeat reports. They currently have a sector outperform rating on the stock.

A number of other analysts also recently weighed in on MGA. TD upped their target price on shares of Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a report on Friday, May 29th. Barclays cut their target price on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Veritas upgraded Magna International to a “strong-buy” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price target on Magna International to $57.00 and gave the stock a “sector perform” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Magna International has an average rating of “Hold” and an average target price of $65.73.

Magna International Price Performance

Shares of Magna International stock opened at $67.59 on Monday. 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 business has a 50 day moving average of $64.95 and a 200 day moving average of $60.46. The company has a market cap of $18.07 billion, a PE ratio of 28.28, a P/E/G ratio of 0.92 and a beta of 1.44. Magna International has a 52 week low of $40.51 and a 52 week high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities research analysts forecast that Magna International will post 6.86 earnings per share for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is 82.85%.

Institutional Trading of Magna International

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in shares of Magna International by 35.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Magna International in the first quarter worth about $45,000. IFC & Insurance Marketing Inc. purchased a new stake in Magna International during the 4th quarter valued at approximately $49,000. Atlas Capital Advisors Inc. purchased a new position in Magna International during the fourth quarter valued at $67,000. Finally, Danske Bank A S bought a new stake in shares of Magna International in the third quarter worth about $112,000. 67.49% of the stock is currently owned by institutional investors.

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.