Magna International (NYSE:MGA) Stock Gets Price Target Cut from Morgan Stanley

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by Morgan Stanley from $69.00 to $68.00 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

MGA has been the topic of a number of other research reports. UBS Group boosted their target price on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Royal Bank Of Canada decreased their price target on Magna International from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Monday, October 12th. Scotiabank lifted their price objective on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price objective (down from $77.00) on shares of Magna International in a research report on Tuesday, September 15th. Finally, Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.13.

Magna International Price Performance

Shares of MGA opened at $65.97 on Thursday. Magna International has a fifty-two week low of $44.35 and a fifty-two week high of $73.22. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. The firm has a 50-day simple moving average of $66.19 and a 200-day simple moving average of $64.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities research analysts anticipate that Magna International will post 7.02 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.4950 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 14th. Magna International’s dividend payout ratio (DPR) is currently 71.74%.

Institutional Trading of Magna International

A number of institutional investors have recently modified their holdings of the business. Oslo Pensjonsforsikring AS purchased a new stake in shares of Magna International during the 1st quarter worth $45,000. Versant Capital Management Inc lifted its stake in shares of Magna International by 53.9% in the third quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock valued at $75,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Magna International by 115.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock worth $93,000 after buying an additional 896 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Magna International during the second quarter worth about $211,000. Finally, Parallel Advisors LLC boosted its holdings in Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after buying an additional 275 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

About Magna International

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.