Magna International (NYSE:MGA) Stock Gets Price Target Reduction from TD

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by TD from $80.00 to $77.00 in a report published on Thursday morning,BayStreet reports. TD currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price target (down from $77.00) on shares of Magna International in a research report on Tuesday, September 15th. Scotiabank upped their price objective on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. Barclays increased their target price on Magna International from $66.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Morgan Stanley boosted their price target on Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Finally, Wells Fargo & Company boosted their price target on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.27.

Magna International Stock Performance

Shares of Magna International stock opened at $64.00 on Thursday. Magna International has a 1 year low of $43.11 and a 1 year high of $73.22. The firm’s 50-day moving average is $66.63 and its 200 day moving average is $64.13. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. The business had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. Magna International’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts anticipate that Magna International will post 7.06 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.4950 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 14th. Magna International’s payout ratio is 71.74%.

Hedge Funds Weigh In On Magna International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of Magna International in the second quarter worth $28,495,000. TD Waterhouse Canada Inc. boosted its position in Magna International by 10.7% in the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock worth $134,577,000 after purchasing an additional 206,433 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Magna International in the second quarter worth about $9,160,000. Plato Investment Management Ltd bought a new stake in shares of Magna International during the 2nd quarter valued at about $7,473,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after purchasing an additional 107,150 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.