Magna International (NYSE:MGA – Get Free Report) (TSE:MG) had its price objective raised by equities researchers at Morgan Stanley from $65.00 to $69.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 3.29% from the stock’s previous close.
Several other brokerages have also issued reports on MGA. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. UBS Group raised their target price on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their price target on shares of Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Scotiabank upped their price target on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. Finally, Wall Street Zen lowered Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.20.
Read Our Latest Report on Magna International
Magna International Trading Up 0.1%
Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities analysts anticipate that Magna International will post 7.05 earnings per share for the current year.
Institutional Investors Weigh In On Magna International
Several hedge funds have recently added to or reduced their stakes in MGA. Public Employees Retirement System of Ohio bought a new position in Magna International during the second quarter worth $9,160,000. Kendall Capital Management bought a new position in shares of Magna International in the second quarter valued at about $1,176,000. Plato Investment Management Ltd acquired a new stake in shares of Magna International during the 2nd quarter worth about $7,473,000. Bank of New York Mellon Corp acquired a new stake in shares of Magna International during the 2nd quarter worth about $28,495,000. Finally, Hudson Value Partners LLC bought a new stake in shares of Magna International during the 2nd quarter worth about $609,000. Institutional investors and hedge funds own 67.49% of the company’s stock.
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.
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