The Goldman Sachs Group Cuts Magna International (NYSE:MGA) Price Target to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective trimmed by The Goldman Sachs Group from $60.00 to $52.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a sell rating on the stock.

Other research analysts have also issued reports about the company. Barclays lowered their target price on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Morgan Stanley lifted their target price on Magna International from $54.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 18th. Wells Fargo & Company lowered their target price on Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Zacks Research upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded Magna International from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.33.

Magna International Stock Up 0.5%

Magna International stock opened at $56.71 on Tuesday. The firm has a market capitalization of $15.56 billion, a P/E ratio of 19.23 and a beta of 1.44. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.87 and a current ratio of 1.25. Magna International has a one year low of $31.52 and a one year high of $69.94. The company has a 50-day simple moving average of $58.53 and a 200-day simple moving average of $53.20.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 13th. The company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. The company had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. Magna International had a return on equity of 12.73% and a net margin of 1.99%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts expect that Magna International will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.495 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, February 27th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.5%. Magna International’s dividend payout ratio is 67.12%.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently bought and sold shares of MGA. Integrated Wealth Concepts LLC boosted its position in Magna International by 19.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock worth $231,000 after acquiring an additional 1,123 shares during the period. Ameriprise Financial Inc. boosted its position in Magna International by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock worth $2,196,000 after acquiring an additional 7,073 shares during the period. Steph & Co. boosted its position in Magna International by 51.6% during the 3rd quarter. Steph & Co. now owns 6,578 shares of the company’s stock worth $312,000 after acquiring an additional 2,240 shares during the period. Farther Finance Advisors LLC boosted its position in Magna International by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,839 shares of the company’s stock worth $134,000 after acquiring an additional 1,408 shares during the period. Finally, JARISLOWSKY FRASER Ltd boosted its position in Magna International by 21.0% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 20,686 shares of the company’s stock worth $980,000 after acquiring an additional 3,596 shares during the period. 67.49% of the stock is currently 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.