Magna International (NYSE:MGA) Reaches New 52-Week High After Analyst Upgrade

Magna International Inc. (NYSE:MGA) (TSE:MG) reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from $74.00 to $78.00. Scotiabank currently has a sector outperform rating on the stock. Magna International traded as high as $70.39 and last traded at $69.94, with a volume of 1595646 shares. The stock had previously closed at $67.87.

MGA has been the subject of several other reports. Citigroup lifted their price objective on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. The Goldman Sachs Group lowered their price objective on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Wells Fargo & Company increased their target price on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Canadian Imperial Bank of Commerce reduced their price objective on Magna International to $74.00 in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.33.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently bought and sold shares of MGA. EverSource Wealth Advisors LLC raised its stake in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in shares of Magna International during the 1st quarter valued at $45,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Magna International during the 4th quarter worth $49,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Magna International during the 4th quarter worth $67,000. Finally, Danske Bank A S purchased a new position in shares of Magna International in the 3rd quarter worth $112,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Stock Up 3.0%

The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 0.93 and a beta of 1.44. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $65.90 and a two-hundred day moving average of $61.13.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. Magna International had a return on equity of 14.87% and a net margin of 1.80%.The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, analysts predict that Magna International Inc. will post 6.91 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, August 14th. Magna International’s dividend payout ratio is 71.74%.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.