Magna International (NYSE:MGA) Price Target Raised to $58.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective hoisted by Citigroup from $55.00 to $58.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on MGA. Wells Fargo & Company boosted their price objective on Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Zacks Research upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Barclays boosted their price target on shares of Magna International from $58.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 17th. Raymond James Financial increased their price target on shares of Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 17th. Finally, Evercore raised their price objective on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.93.

Magna International Trading Up 2.4%

NYSE:MGA opened at $56.09 on Monday. Magna International has a 52 week low of $30.39 and a 52 week high of $69.94. The firm has a 50-day moving average price of $57.64 and a two-hundred day moving average price of $52.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.87 and a current ratio of 1.25. The firm has a market cap of $15.60 billion, a price-to-earnings ratio of 19.01 and a beta of 1.43.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.37. The firm had revenue of $10.74 billion for the quarter, compared to the consensus estimate of $10.54 billion. Magna International had a return on equity of 12.73% and a net margin of 1.99%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.69 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, equities analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, February 27th. This is a boost from Magna International’s previous quarterly dividend of $0.49. Magna International’s payout ratio is presently 67.12%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently modified their holdings of the company. ARGA Investment Management LP boosted its position in shares of Magna International by 33.2% in the third quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock valued at $196,557,000 after acquiring an additional 1,033,747 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Magna International during the 3rd quarter worth approximately $33,593,000. AGF Management Ltd. purchased a new stake in Magna International in the 3rd quarter worth approximately $14,191,000. Achmea Investment Management B.V. purchased a new stake in Magna International in the 3rd quarter worth approximately $8,606,000. Finally, Geode Capital Management LLC boosted its holdings in Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after purchasing an additional 154,710 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.