Weekly Investment Analysts’ Ratings Changes for Magna International (MGA)

A number of firms have modified their ratings and price targets on shares of Magna International (NYSE: MGA) recently:

  • 2/12/2024 – Magna International had its price target lowered by analysts at Scotiabank from $62.00 to $59.00. They now have a “sector perform” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at Royal Bank of Canada from $61.00 to $60.00. They now have a “sector perform” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at JPMorgan Chase & Co. from $77.00 to $69.00. They now have an “overweight” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at BMO Capital Markets from $67.00 to $65.00. They now have an “outperform” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at CIBC from $63.00 to $61.00. They now have a “neutral” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at Citigroup Inc. from $60.00 to $57.00. They now have a “neutral” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at Raymond James from $62.00 to $60.00. They now have a “market perform” rating on the stock.
  • 2/12/2024 – Magna International was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 2/12/2024 – Magna International had its price target lowered by analysts at Wells Fargo & Company from $60.00 to $54.00. They now have an “equal weight” rating on the stock.
  • 2/12/2024 – Magna International had its price target lowered by analysts at TD Securities from $73.00 to $69.00. They now have a “buy” rating on the stock.
  • 1/25/2024 – Magna International had its price target lowered by analysts at JPMorgan Chase & Co. from $80.00 to $77.00. They now have an “overweight” rating on the stock.
  • 1/25/2024 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 1/24/2024 – Magna International had its price target lowered by analysts at Barclays PLC from $65.00 to $63.00. They now have an “equal weight” rating on the stock.
  • 1/17/2024 – Magna International had its price target raised by analysts at UBS Group AG from $59.00 to $60.00. They now have a “neutral” rating on the stock.
  • 1/15/2024 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 1/3/2024 – Magna International was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $58.00 price target on the stock, down previously from $73.00.
  • 12/25/2023 – Magna International was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Magna International Trading Up 1.7 %

MGA opened at $55.64 on Tuesday. Magna International Inc. has a twelve month low of $46.71 and a twelve month high of $65.27. The company has a quick ratio of 0.75, a current ratio of 1.11 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $56.68 and a 200-day moving average of $55.68. The stock has a market cap of $15.96 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.44 and a beta of 1.71.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last issued its earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a return on equity of 13.33% and a net margin of 2.83%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. On average, sell-side analysts predict that Magna International Inc. will post 6.64 EPS for the current year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 23rd will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, February 22nd. Magna International’s dividend payout ratio (DPR) is 45.02%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after purchasing an additional 879 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Magna International by 2.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 148,673 shares of the company’s stock worth $8,783,000 after buying an additional 4,090 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Magna International by 11.7% in the fourth quarter. Van ECK Associates Corp now owns 3,995 shares of the company’s stock worth $236,000 after purchasing an additional 419 shares in the last quarter. Syon Capital LLC purchased a new position in shares of Magna International in the fourth quarter worth about $250,000. Finally, Lorne Steinberg Wealth Management Inc. increased its stake in shares of Magna International by 3.9% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock worth $4,217,000 after purchasing an additional 2,646 shares in the last quarter. 62.21% of the stock is owned by institutional investors.

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

Further Reading

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