BMO Capital Markets restated their market perform rating on shares of Magna International (NYSE:MGA – Free Report) (TSE:MG) in a research report report published on Friday morning, Marketbeat reports. They currently have a $70.00 target price on the stock, down from their previous target price of $76.00.
Several other analysts have also recently weighed in on MGA. Scotiabank boosted their price target on Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their target price on shares of Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Barclays boosted their target price on shares of Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Morgan Stanley upped their price target on shares of Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.07.
View Our Latest Stock Report on MGA
Magna International Stock Up 0.1%
Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last issued its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping 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 analyst estimates of $10.63 billion. During the same quarter in the previous year, the company posted $1.44 EPS. Magna International’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts anticipate that Magna International will post 7.06 earnings per share for the current fiscal year.
Magna International Announces Dividend
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 $0.495 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 (DPR) is 71.74%.
Hedge Funds Weigh In On Magna International
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. increased its position in Magna International by 2.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock valued at $38,741,000 after purchasing an additional 16,255 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Magna International in the 2nd quarter worth approximately $7,473,000. Public Employees Retirement System of Ohio boosted its stake in shares of Magna International by 43.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock valued at $11,095,000 after purchasing an additional 60,432 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Magna International by 83.1% in the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after purchasing an additional 61,151 shares during the last quarter. Finally, Kendall Capital Management acquired a new stake in shares of Magna International during the second quarter worth $1,176,000. 67.49% of the stock is owned by institutional investors and hedge funds.
Magna International Company Profile
Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.
Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.
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