Magna International (NYSE:MGA) Price Target Raised to $50.00

Magna International (NYSE:MGA) (TSE:MG) had its price target upped by CIBC from $47.00 to $50.00 in a report issued on Monday,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets increased their price objective on shares of Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank Of Canada increased their price objective on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Monday. Wells Fargo & Company increased their price objective on shares of Magna International from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday. UBS Group increased their price objective on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Scotiabank raised their price target on shares of Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday. Three equities research 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, the stock presently has an average rating of “Hold” and a consensus target price of $48.57.

Magna International Trading Up 2.1%

Shares of MGA stock opened at $49.95 on Monday. The firm has a market cap of $14.08 billion, a P/E ratio of 11.73, a PEG 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 firm’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 announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.09. The business had revenue of $10.50 billion for the quarter, compared to analyst estimates 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 was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. Magna International has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Magna International will post 5.87 EPS for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.94 annualized dividend and a yield of 3.9%. Magna International’s dividend payout ratio (DPR) is presently 53.01%.

Institutional Trading of Magna International

A number of hedge funds have recently made changes to their positions in the company. Cromwell Holdings LLC raised its stake in shares of Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock valued at $28,000 after purchasing an additional 466 shares during the period. LRI Investments LLC purchased a new stake in shares of Magna International during the second quarter valued at approximately $27,000. Integrated Wealth Concepts LLC raised its stake in shares of Magna International by 19.8% during the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after purchasing an additional 1,123 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after purchasing an additional 1,136 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock valued at $51,000 after purchasing an additional 1,253 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.