Magna International (NYSE:MGA) Sets New 12-Month High – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $50.04 and last traded at $50.2070, with a volume of 366406 shares. The stock had previously closed at $48.93.

Analyst Upgrades and Downgrades

MGA has been the topic of a number of research analyst reports. Citigroup upgraded Magna International to a “hold” rating in a research note on Friday, October 10th. Royal Bank Of Canada upped their price objective on Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a research note on Monday. Barclays raised their target price on Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Scotiabank boosted their price target on shares of Magna International from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Wall Street Zen downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.57.

Magna International Price Performance

The business’s fifty day simple moving average is $46.45 and its 200-day simple moving average is $41.79. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The firm has a market cap of $14.05 billion, a P/E ratio of 11.70, a PEG ratio of 1.00 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. During the same period last year, the company earned $1.28 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. As a group, analysts forecast that Magna International Inc. will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.9%. Magna International’s dividend payout ratio is currently 53.01%.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently bought and sold shares of MGA. Bank of New York Mellon Corp increased its holdings in shares of Magna International by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock worth $8,582,000 after purchasing an additional 13,220 shares during the period. ARK Investment Management LLC purchased a new position in Magna International during the first quarter worth about $5,478,000. Quantbot Technologies LP increased its stake in Magna International by 3,849.3% in the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock worth $5,639,000 after acquiring an additional 161,707 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Magna International in the 1st quarter valued at about $305,000. Finally, ARGA Investment Management LP raised its holdings in shares of Magna International by 3.9% in the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock valued at $120,366,000 after acquiring an additional 116,529 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.