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

by · The Markets Daily

Magna International (NYSE:MGA – Free Report) (TSE:MG) had its price target raised by Royal Bank Of Canada from $66.00 to $69.00 in a research note released on Monday morning, Marketbeat reports. They currently have a sector perform rating on the stock.

A number of other analysts have also commented on MGA. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. UBS Group lifted their price target on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup increased their price objective on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Scotiabank lifted their target price on Magna International from $72.00 to $74.00 and gave the company a “sector outperform” rating in a research report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce dropped their target price on Magna International to $74.00 in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.33.

View Our Latest Report on MGA

Magna International Stock Up 2.3%

NYSE:MGA opened at $71.65 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The company has a market cap of $19.16 billion, a PE ratio of 25.96, a PEG ratio of 0.93 and a beta of 1.44. Magna International has a 52-week low of $41.69 and a 52-week high of $71.96. The stock has a 50-day simple moving average of $66.10 and a 200 day simple moving average of $61.34.

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last released its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, sell-side analysts expect that Magna International will post 7.02 EPS 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. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 14th. Magna International’s payout ratio is 71.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MGA. Geode Capital Management LLC raised its stake in Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after acquiring an additional 154,710 shares during the period. Russell Investments Group Ltd. boosted its position in Magna International by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after purchasing an additional 151,819 shares during the period. Hillsdale Investment Management Inc. increased its holdings in shares of Magna International by 14.8% in the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after purchasing an additional 107,150 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Magna International by 196.9% in the third quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock valued at $6,620,000 after purchasing an additional 92,613 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its position in shares of Magna International by 83.1% in the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after purchasing an additional 61,151 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Magna International Company Profile

(Get Free Report)

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.

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