Magna International (NYSE:MGA) Price Target Cut to $70.00 by Analysts at JPMorgan Chase & Co.

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by JPMorgan Chase & Co. from $71.00 to $70.00 in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. TD Securities lifted their price target on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Morgan Stanley upped their price objective on shares of Magna International from $54.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 18th. Citigroup upped their price objective on shares of Magna International from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Barclays dropped their target price on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Finally, Wells Fargo & Company dropped their target price on shares of Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Magna International currently has a consensus rating of “Hold” and an average price target of $62.20.

Magna International Price Performance

Shares of NYSE:MGA opened at $62.23 on Thursday. The firm has a market cap of $17.07 billion, a PE ratio of 21.09 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 52 week low of $32.54 and a 52 week high of $69.94. The firm’s fifty day moving average is $59.08 and its 200-day moving average is $53.68.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 13th. The company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.37. The business had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. Magna International had a net margin of 1.99% and a return on equity of 12.73%. Magna International’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.69 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Sell-side analysts predict that Magna International will post 6.82 earnings per share for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.495 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.98 annualized dividend and a yield of 3.2%. This is a boost from Magna International’s previous quarterly dividend of $0.49. Magna International’s dividend payout ratio is currently 67.12%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently bought and sold shares of the company. Community Bank N.A. purchased a new stake in Magna International in the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares in the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in Magna International in the 4th quarter worth approximately $49,000. Atlas Capital Advisors Inc. purchased a new stake in Magna International in the 4th quarter worth approximately $67,000. Finally, Danske Bank A S purchased a new stake in Magna International in the 3rd quarter worth approximately $112,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.