Magna International (NYSE:MGA) Hits New 1-Year High – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG) shares 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. The stock had previously closed at $49.81.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Wall Street Zen raised shares of Magna International from a “buy” rating to a “strong-buy” rating in a report on Sunday. Scotiabank increased their price target on shares of Magna International from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Evercore ISI boosted their price objective on shares of Magna International from $40.00 to $47.00 and gave the stock an “in-line” rating in a report on Monday, October 13th. Finally, Citigroup raised Magna International to a “hold” rating in a research note on Friday, October 10th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $48.57.

Magna International Stock Performance

The stock has a market cap of $14.15 billion, a PE ratio of 11.80, a P/E/G ratio of 1.00 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. The business’s fifty day moving average price is $46.60 and its 200-day moving average price is $42.12.

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

Magna International Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new stake in Magna International in the second quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. raised its stake in Magna International by 507.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock valued at $51,000 after buying an additional 1,253 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after acquiring an additional 1,136 shares during the period. Parallel Advisors LLC lifted its stake in Magna International by 115.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after buying an additional 1,338 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in Magna International in the 1st quarter valued at about $99,000. 67.49% of the stock is owned by hedge funds and other 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.