Brokerages Set Magna International Inc. (NYSE:MGA) Price Target at $65.60

Magna International Inc. (NYSE:MGA) (TSE:MG) has been given a consensus recommendation of “Hold” by the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $65.7333.

A number of equities analysts have commented on MGA shares. Wells Fargo & Company reduced their target price on shares of Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. UBS Group increased 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. The Goldman Sachs Group dropped their price target on shares of Magna International from $60.00 to $52.00 and set a “sell” rating for the company in a research note on Tuesday, April 14th. Barclays cut their price target on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Finally, Veritas upgraded Magna International to a “strong-buy” rating in a report on Monday, May 4th.

Magna International Stock Up 2.8%

Shares of NYSE:MGA opened at $67.92 on Friday. Magna International has a 52-week low of $40.51 and a 52-week high of $69.94. The stock has a market cap of $18.16 billion, a P/E ratio of 28.42, a PEG ratio of 0.90 and a beta of 1.44. The business has a fifty day moving average of $64.85 and a two-hundred day moving average of $60.36. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

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

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. Magna International’s payout ratio is currently 82.85%.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its position 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 worth $231,000 after purchasing an additional 1,123 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Magna International by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock valued at $2,196,000 after buying an additional 7,073 shares during the last quarter. Van ECK Associates Corp lifted its position in Magna International by 6.0% in the third quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock valued at $421,000 after buying an additional 505 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Magna International by 196.9% during the third quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock worth $6,620,000 after buying an additional 92,613 shares during the period. Finally, Danske Bank A S purchased a new position in Magna International during the third quarter worth about $112,000. 67.49% of the stock is currently owned by hedge funds and other 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.