Magna International (NYSE:MGA) Price Target Raised to $77.00

Magna International (NYSE:MGA) (TSE:MG) had its price target increased by JPMorgan Chase & Co. from $70.00 to $77.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the company. Scotiabank increased their price objective on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. Royal Bank Of Canada lifted their target price on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Wells Fargo & Company increased their price target on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, TD raised their price objective on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average target price of $67.93.

Magna International Stock Performance

Shares of MGA stock opened at $69.68 on Monday. The business’s 50-day moving average price is $66.41 and its 200-day moving average price is $61.88. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. Magna International has a 12 month low of $43.11 and a 12 month high of $71.96. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.77 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.33. The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts forecast that Magna International will post 7.02 EPS for the current year.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. Magna International’s dividend payout ratio (DPR) is 71.74%.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. grew its stake in Magna International by 2.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after purchasing an additional 16,255 shares during the period. Plato Investment Management Ltd lifted its stake in Magna International by 74.5% in the fourth quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after buying an additional 29,785 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Magna International by 43.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after buying an additional 60,432 shares during the period. Mediolanum International Funds Ltd grew its position in shares of Magna International by 83.1% during the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock worth $7,210,000 after buying an additional 61,151 shares during the period. Finally, ARGA Investment Management LP increased its stake in shares of Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after acquiring an additional 44,996 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

About Magna International

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.