Magna International (NYSE:MGA – Free Report) (TSE:MG) had its price target lifted by Barclays from $68.00 to $70.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.
A number of other brokerages have also recently weighed in on MGA. BMO Capital Markets reissued a “market perform” rating and set a $70.00 price objective (down from $76.00) on shares of Magna International in a report on Friday, September 18th. TD cut their target price on Magna International from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. UBS Group increased their price target on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Scotiabank increased their price target 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.27.
View Our Latest Stock Report on Magna International
Magna International Stock Up 0.0%
Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last released its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share 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 business had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, research analysts expect that Magna International will post 7.06 earnings per share for the current fiscal year.
Magna International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.4950 per share. This represents a $1.98 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, August 14th. Magna International’s dividend payout ratio (DPR) is presently 71.74%.
Hedge Funds Weigh In On Magna International
A number of large investors have recently bought and sold shares of the stock. Oslo Pensjonsforsikring AS purchased a new stake in shares of Magna International during the first quarter valued at approximately $45,000. Versant Capital Management Inc increased 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 worth $75,000 after buying an additional 410 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Magna International by 115.0% in 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 during the period. Camelot Portfolios LLC purchased a new position in shares of Magna International in the second quarter worth $211,000. Finally, Parallel Advisors LLC raised its holdings in Magna International by 9.1% during the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after buying an additional 275 shares during the last quarter. 67.49% of the stock is 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.
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