Magna International (NYSE:MGA) Hits New 1-Year High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price target on Magna International from $45.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, November 3rd. Royal Bank Of Canada raised their price target on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Evercore ISI increased their target price on Magna International from $40.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 13th. Citigroup upped their price objective on shares of Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a report on Friday. Finally, UBS Group boosted their target price on shares of Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Three investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.00.

Magna International Price Performance

The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.59. The stock has a fifty day moving average of $46.85 and a two-hundred day moving average of $42.34. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

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

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, November 14th. Magna International’s dividend payout ratio is presently 53.01%.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the company. ARGA Investment Management LP raised its position in shares of Magna International by 33.2% during the 3rd quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock worth $196,557,000 after purchasing an additional 1,033,747 shares during the period. Geode Capital Management LLC increased its position in shares of Magna International by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after purchasing an additional 338,470 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Magna International in the third quarter worth about $33,593,000. QV Investors Inc. boosted its holdings in Magna International by 0.6% during the second quarter. QV Investors Inc. now owns 651,377 shares of the company’s stock worth $25,129,000 after buying an additional 3,912 shares in the last quarter. Finally, Amundi raised its position in shares of Magna International by 19.0% during the first quarter. Amundi now owns 582,710 shares of the company’s stock worth $19,305,000 after purchasing an additional 93,189 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.