Magna International (NYSE:MGA) Price Target Raised to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective raised by BMO Capital Markets from $49.00 to $52.00 in a research note released on Monday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other analysts have also issued reports on the company. Wall Street Zen lowered Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Wells Fargo & Company boosted their target price on Magna International from $45.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday. CIBC restated a “neutral” rating and issued a $47.00 target price (up from $46.00) on shares of Magna International in a research note on Tuesday, August 26th. Barclays boosted their target price on Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Finally, Evercore ISI boosted their target price on Magna International from $40.00 to $47.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.57.

Magna International Stock Performance

Shares of Magna International stock opened at $49.95 on Monday. The business’s fifty day simple moving average is $46.30 and its 200 day simple moving average is $41.61. The firm has a market capitalization of $14.08 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.00 and a beta of 1.53. Magna International has a 12 month low of $30.39 and a 12 month high of $50.35. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last issued 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. The business had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.Magna International’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. Magna International has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Magna International will post 5.87 EPS for the current 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 $0.485 dividend. 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 payout ratio is 53.01%.

Hedge Funds Weigh In On Magna International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC bought a new position in Magna International in the 2nd quarter worth about $27,000. Cromwell Holdings LLC increased its stake in Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after acquiring an additional 466 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Magna International by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after acquiring an additional 1,253 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Magna International by 115.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after acquiring an additional 1,338 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.