Magna International (NYSE:MGA) Stock Gets Price Target Cut from Royal Bank Of Canada

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by Royal Bank Of Canada from $69.00 to $68.00 in a research report report published on Monday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

MGA has been the topic of several other reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price target (down from $77.00) on shares of Magna International in a research report on Tuesday, September 15th. Barclays upped their price target on shares of Magna International from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. Scotiabank raised 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. Wall Street Zen cut shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $70.00 price objective (down from $76.00) on shares of Magna International in a research note on Friday, September 18th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.20.

Magna International Stock Down 1.3%

MGA stock opened at $64.44 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. Magna International has a fifty-two week low of $44.31 and a fifty-two week high of $73.22. The firm’s 50-day simple moving average is $66.31 and its 200 day simple moving average is $64.40. The stock has a market cap of $17.07 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.69 and a beta of 1.46.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts predict that Magna International will post 7.06 EPS for the current year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.4950 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 14th. Magna International’s dividend payout ratio is 71.74%.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. lifted its stake in Magna International by 10.7% during the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock valued at $134,577,000 after buying an additional 206,433 shares in the last quarter. Amundi boosted its holdings in shares of Magna International by 4.2% in the second quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after buying an additional 71,927 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in shares of Magna International by 14.8% in the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after buying an additional 107,150 shares during the period. Bank of New York Mellon Corp increased its position in shares of Magna International by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after acquiring an additional 13,439 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Magna International by 43.5% in the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after acquiring an additional 60,432 shares in the last quarter. 67.49% of the stock is owned by institutional investors.

Magna International Company Profile

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.