Brokerages Set Magna International Inc. (NYSE:MGA) Price Target at $48.57

Magna International Inc. (NYSE:MGA) (TSE:MG) has received a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $48.5714.

Several research firms have recently commented on MGA. CIBC upped their target price on Magna International from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. 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. Evercore ISI increased their target price on shares of Magna International from $40.00 to $47.00 and gave the stock an “in-line” rating in a research report on Monday, October 13th. Royal Bank Of Canada increased their price target on Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Finally, Cfra Research upgraded Magna International to a “hold” rating in a research report on Monday, August 4th.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGA. Bank of New York Mellon Corp raised its holdings in shares of Magna International by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock valued at $8,582,000 after acquiring an additional 13,220 shares in the last quarter. ARK Investment Management LLC purchased a new position in shares of Magna International during the first quarter worth about $5,478,000. Quantbot Technologies LP increased its position in shares of Magna International by 3,849.3% in the first quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock worth $5,639,000 after purchasing an additional 161,707 shares during the last quarter. United Services Automobile Association bought a new position in shares of Magna International in the first quarter worth approximately $305,000. Finally, ARGA Investment Management LP raised its stake in Magna International by 3.9% in the second quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock valued at $120,366,000 after purchasing an additional 116,529 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Down 1.7%

MGA stock opened at $49.51 on Tuesday. Magna International has a 1-year low of $30.39 and a 1-year high of $50.77. The business’s 50 day simple moving average is $46.79 and its 200 day simple moving average is $42.23. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $13.95 billion, a PE ratio of 11.62, a PEG ratio of 1.00 and a beta of 1.59.

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

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 14th. Magna International’s dividend payout ratio is 53.01%.

Magna International Company Profile

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.