Magna International (NYSE:MGA) Price Target Raised to $58.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective hoisted by Barclays from $52.00 to $58.00 in a report released on Friday morning, Marketbeat reports. The brokerage currently has an equal weight rating on the stock.

MGA has been the topic of a number of other research reports. Morgan Stanley lifted their target price on shares of Magna International from $38.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Evercore ISI raised their price objective on shares of Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. Wall Street Zen upgraded Magna International from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Wells Fargo & Company raised their price objective on shares of Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Finally, Citigroup raised their target price on Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.47.

Magna International Price Performance

MGA stock opened at $53.21 on Friday. Magna International has a 12 month low of $30.39 and a 12 month high of $57.55. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. The stock has a market cap of $14.91 billion, a PE ratio of 14.54 and a beta of 1.50. The company has a 50-day moving average price of $52.35 and a 200 day moving average price of $47.80.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The business had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio is currently 53.01%.

Institutional Investors Weigh In On Magna International

Hedge funds have recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of Magna International during the second quarter valued at approximately $27,000. Community Bank N.A. acquired a new stake in Magna International during the 3rd quarter valued at $29,000. Farther Finance Advisors LLC increased its stake in Magna International by 385.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after buying an additional 1,136 shares during the period. Danske Bank A S acquired a new position in Magna International in the 3rd quarter worth $112,000. Finally, Steph & Co. purchased a new position in Magna International in the 2nd quarter valued at about $167,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.