Magna International (NYSE:MGA) Hits New 1-Year High – Here’s What Happened

Magna International Inc. (NYSE:MGA) (TSE:MG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.50 and last traded at $49.97, with a volume of 123375 shares. The stock had previously closed at $49.81.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGA. Wall Street Zen upgraded shares of Magna International from a “buy” rating to a “strong-buy” rating in a report on Sunday. Royal Bank Of Canada raised their price objective on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. UBS Group lifted their price target on Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research report on Wednesday, October 8th. Finally, Barclays raised their price target on shares of Magna International from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.57.

Magna International Stock Up 0.8%

The company has a market cap of $14.15 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.00 and a beta of 1.59. The firm has a 50-day moving average price of $46.60 and a 200 day moving average price of $42.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.82.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same period in the prior year, the company posted $1.28 earnings per share. Magna International’s revenue was up 1.8% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. Sell-side analysts predict that Magna International Inc. will post 5.87 EPS for the current year.

Magna International Announces Dividend

The business also recently announced 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, November 14th. Magna International’s dividend payout ratio is presently 53.01%.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP increased its stake in shares of Magna International by 65.5% in the 3rd quarter. Quantbot Technologies LP now owns 199,899 shares of the company’s stock valued at $9,471,000 after purchasing an additional 79,133 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Magna International in the 3rd quarter valued at approximately $33,593,000. Syon Capital LLC acquired a new position in shares of Magna International during the third quarter worth $256,000. Leuthold Group LLC lifted its holdings in Magna International by 1,057.9% during the 3rd quarter. Leuthold Group LLC now owns 116,279 shares of the company’s stock worth $5,509,000 after buying an additional 106,237 shares during the period. Finally, Plato Investment Management Ltd acquired a new position in shares of Magna International in the third quarter worth approximately $1,880,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.