Magna International (NYSE:MGA) Price Target Raised to $67.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective boosted by Wells Fargo & Company from $62.00 to $67.00 in a report released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the stock. TD boosted their target price on shares of Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Citigroup raised their price target on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Magna International to $74.00 in a report on Monday, May 4th. UBS Group upped their price objective on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Scotiabank increased their target price on shares of Magna International from $72.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, July 20th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $67.33.

Magna International Stock Performance

MGA opened at $71.65 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $66.10 and its two-hundred day moving average price is $61.34. The firm has a market capitalization of $19.16 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. Magna International has a 12-month low of $41.69 and a 12-month high of $71.96.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’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, equities analysts forecast that Magna International will post 7.02 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 14th. Magna International’s payout ratio is currently 71.74%.

Hedge Funds Weigh In On Magna International

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after buying an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new position in shares of Magna International in the 1st quarter worth approximately $45,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Magna International in the 4th quarter worth approximately $49,000. Atlas Capital Advisors Inc. bought a new stake in Magna International during the 4th quarter worth approximately $67,000. Finally, Danske Bank A S acquired a new stake in Magna International during the 3rd quarter valued at $112,000. 67.49% of the stock is owned by institutional investors.

About Magna International

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.