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

Magna International (NYSE:MGA) (TSE:MG) had its price objective lifted by Scotiabank from $47.00 to $52.00 in a report published on Monday, MarketBeat.com reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Magna International from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, October 20th. TD Securities raised their price objective on Magna International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Citigroup raised Magna International to a “hold” rating in a report on Friday, October 10th. Wall Street Zen downgraded Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Royal Bank Of Canada raised their price objective on Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a report on Monday. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $48.57.

Magna International Trading Up 2.1%

Shares of NYSE:MGA opened at $49.95 on Monday. The company has a market capitalization of $14.08 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.00 and a beta of 1.53. Magna International has a 1 year low of $30.39 and a 1 year high of $50.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.82. The business’s 50 day simple moving average is $46.30 and its 200 day simple moving average is $41.61.

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

Magna International Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, November 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.9%. Magna International’s dividend payout ratio (DPR) is 53.01%.

Institutional Inflows and Outflows

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

About Magna International

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.