Magna International (NYSE:MGA) Price Target Raised to $78.00

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by Scotiabank from $74.00 to $78.00 in a report issued on Monday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

MGA has been the topic of several other research reports. Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. cut their target price on Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. UBS Group upped their price target on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Zacks Research cut Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Magna International presently has a consensus rating of “Hold” and an average target price of $67.33.

Magna International Stock Up 2.3%

Shares of NYSE MGA opened at $71.65 on Monday. The company has a 50 day simple moving average of $66.10 and a 200 day simple moving average of $61.34. The firm has a market cap of $19.16 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. Magna International has a 1 year low of $41.69 and a 1 year high of $71.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping 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 firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the firm posted $1.44 EPS. The company’s revenue for the quarter 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, research analysts forecast that Magna International will post 7.02 EPS for the current 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 issued 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 is Friday, August 14th. Magna International’s dividend payout ratio (DPR) is presently 71.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MGA. EverSource Wealth Advisors LLC boosted its position 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 valued at $42,000 after purchasing an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Magna International in the first quarter worth approximately $45,000. IFC & Insurance Marketing Inc. acquired a new position in Magna International in the fourth quarter valued at approximately $49,000. Atlas Capital Advisors Inc. acquired a new position in Magna International in the fourth quarter valued at approximately $67,000. Finally, Danske Bank A S bought a new position in shares of Magna International during the 3rd quarter worth approximately $112,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.