Magna International (NYSE:MGA) Stock Price Target Lowered at Royal Bank Of Canada

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by Royal Bank Of Canada from $69.00 to $68.00 in a report released on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other research analysts have also recently issued reports on MGA. Morgan Stanley increased their target price on shares of Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. UBS Group boosted their price target on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays boosted their price target on Magna International from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday. Scotiabank upped their price target on Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.20.

Magna International Price Performance

Shares of NYSE MGA opened at $63.63 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. Magna International has a one year low of $43.11 and a one year high of $73.22. The firm has a market capitalization of $16.85 billion, a P/E ratio of 23.06, a PEG ratio of 0.68 and a beta of 1.46. The company’s fifty day moving average is $66.55 and its two-hundred day moving average is $64.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the firm posted $1.44 EPS. The business’s 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. Analysts forecast that Magna International will post 7.06 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.4950 per share. The ex-dividend date was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. Magna International’s payout ratio is presently 71.74%.

Institutional Trading of Magna International

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in shares of Magna International during the 2nd quarter worth approximately $28,495,000. TD Waterhouse Canada Inc. lifted its stake in Magna International by 10.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock valued at $134,577,000 after buying an additional 206,433 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Magna International in the 2nd quarter valued at approximately $9,160,000. Plato Investment Management Ltd purchased a new stake in Magna International in the 2nd quarter valued at approximately $7,473,000. Finally, Hillsdale Investment Management Inc. grew its holdings in Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after buying an additional 107,150 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.