Magna International (NYSE:MGA) Price Target Raised to $47.00

Magna International (NYSE:MGA) (TSE:MG) had its price target increased by Evercore ISI from $40.00 to $47.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Magna International from a “buy” rating to a “strong-buy” rating in a research report on Sunday. TD Securities increased their price target on shares of Magna International from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price target on shares of Magna International from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Bank of America increased their price target on shares of Magna International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Finally, CIBC reaffirmed a “neutral” rating and set a $47.00 price target (up previously from $46.00) on shares of Magna International in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.29.

Magna International Trading Down 0.3%

MGA stock opened at $44.83 on Monday. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.00 and a beta of 1.53. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $45.75 and a 200-day simple moving average of $40.07. Magna International has a 52 week low of $30.39 and a 52 week high of $49.79.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.25. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the prior year, the firm earned $1.35 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Magna International will post 5.87 EPS for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, August 15th. Magna International’s dividend payout ratio (DPR) is currently 45.54%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MGA. LRI Investments LLC acquired a new position in Magna International in the 2nd quarter worth approximately $27,000. Cromwell Holdings LLC boosted its stake in Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after purchasing an additional 466 shares during the period. Farther Finance Advisors LLC boosted its stake in Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after purchasing an additional 1,136 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Magna International by 507.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after purchasing an additional 1,253 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Magna International by 115.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after purchasing an additional 1,338 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.