Analysts Set Magna International Inc. (NYSE:MGA) Target Price at $68.20

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given an average recommendation of “Hold” by the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $68.20.

Several analysts have commented on the stock. Scotiabank lifted their price objective on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. UBS Group increased their target price 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. Royal Bank Of Canada lifted their price target on shares of Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Morgan Stanley upped their price objective on Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Finally, Barclays raised their target price on Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th.

Hedge Funds Weigh In On Magna International

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in shares of Magna International in the first quarter worth about $45,000. IFC & Insurance Marketing Inc. bought a new position in shares of Magna International in the fourth quarter valued at approximately $49,000. Atlas Capital Advisors Inc. purchased a new position in Magna International during the fourth quarter valued at approximately $67,000. Finally, Danske Bank A S purchased a new position in Magna International during the third quarter valued at approximately $112,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Price Performance

Magna International stock opened at $65.57 on Monday. Magna International has a 52 week low of $43.11 and a 52 week high of $73.22. The company’s 50 day moving average price is $67.41 and its two-hundred day moving average price is $63.41. The stock has a market cap of $17.37 billion, a P/E ratio of 23.76, a P/E/G ratio of 0.71 and a beta of 1.45. 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 released its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company posted $1.44 earnings per share. Magna International’s quarterly revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities analysts predict that Magna International will post 7.06 earnings per share for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 3.0%. Magna International’s dividend payout ratio (DPR) is 71.74%.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.