Wells Fargo & Company Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price dropped by analysts at Wells Fargo & Company from $46.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 8.11% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Bank of America raised their price objective on Magna International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Royal Bank Of Canada reissued a “sector perform” rating and set a $45.00 price target on shares of Magna International in a research note on Friday, September 12th. TD Securities boosted their price target on Magna International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Scotiabank raised their price objective on shares of Magna International from $38.00 to $44.00 and gave the company a “sector perform” rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Magna International from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.00.

Magna International Trading Up 1.0%

Shares of Magna International stock opened at $48.97 on Friday. The firm’s 50 day moving average is $45.11 and its 200 day moving average is $39.58. The firm has a market capitalization of $13.80 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. Magna International has a 1 year low of $30.39 and a 1 year high of $49.00. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, August 1st. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.19 by $0.25. The business had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. Equities research analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in Magna International in the first quarter valued at $27,000. SG Americas Securities LLC raised its position in shares of Magna International by 11.9% in the 1st quarter. SG Americas Securities LLC now owns 54,440 shares of the company’s stock worth $1,850,000 after acquiring an additional 5,797 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Magna International by 19.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company’s stock valued at $8,560,000 after purchasing an additional 41,811 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its position in shares of Magna International by 6.4% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company’s stock valued at $2,877,000 after purchasing an additional 5,075 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Magna International by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock valued at $8,582,000 after purchasing an additional 13,220 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

About Magna International

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.