Magna International (NYSE:MGA) Price Target Raised to $48.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective lifted by Royal Bank Of Canada from $47.00 to $48.00 in a research report report published on Monday morning, MarketBeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other research analysts have also recently weighed in on MGA. JPMorgan Chase & Co. lifted their price target on shares of Magna International from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Wall Street Zen downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. UBS Group lifted their target price on shares of Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, October 6th. TD Securities increased their price target on Magna International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Evercore ISI raised their price objective on Magna International from $40.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 13th. Three investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.57.

Magna International Price Performance

MGA stock opened at $49.95 on Monday. The company has a market cap of $14.08 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.00 and a beta of 1.53. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $46.30 and a two-hundred day moving average price of $41.61. Magna International has a 12-month low of $30.39 and a 12-month high of $50.35.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The business had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. During the same period in the previous year, the company posted $1.28 EPS. The company’s 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, research analysts predict that Magna International will post 5.87 EPS for the current year.

Magna International Announces Dividend

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

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGA. Cromwell Holdings LLC grew 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 acquiring an additional 466 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Magna International in the second quarter worth about $27,000. Integrated Wealth Concepts LLC boosted its holdings in Magna International by 19.8% in 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 last quarter. Farther Finance Advisors LLC boosted 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 purchasing an additional 1,136 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Magna International by 507.3% during the 1st 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 in the last quarter. 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.