Magna International (NYSE:MGA) Given New $52.00 Price Target at Evercore ISI

Magna International (NYSE:MGA) (TSE:MG) had its target price hoisted by Evercore ISI from $47.00 to $52.00 in a research note released on Monday,Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other research analysts have also commented on the stock. UBS Group raised their price objective on shares of Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Barclays lifted their price objective on shares of Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. raised their price target on Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wells Fargo & Company lifted their target price on Magna International from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, November 3rd. Finally, BMO Capital Markets lifted their price objective on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Magna International has an average rating of “Hold” and a consensus price target of $49.33.

Magna International Stock Performance

Magna International stock opened at $48.31 on Monday. The stock has a market cap of $13.61 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.00 and a beta of 1.59. The stock has a 50 day moving average of $47.00 and a 200-day moving average of $43.02. 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 has a 52 week low of $30.39 and a 52 week high of $50.77.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The business had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.03 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. On average, analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 4.0%. Magna International’s dividend payout ratio is presently 53.01%.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently bought and sold shares of MGA. Integrated Wealth Concepts LLC lifted its position in shares of Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after buying an additional 246 shares during the last quarter. Kendall Capital Management increased its stake in Magna International by 4.4% in the third quarter. Kendall Capital Management now owns 8,835 shares of the company’s stock valued at $419,000 after acquiring an additional 370 shares during the last quarter. Van ECK Associates Corp grew its position in Magna International by 6.0% in the third quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock valued at $421,000 after acquiring an additional 505 shares during the last quarter. Community Bank N.A. acquired a new stake in Magna International in the third quarter valued at approximately $29,000. Finally, LRI Investments LLC acquired a new position in Magna International in the 2nd quarter worth about $27,000. Institutional investors own 67.49% of the company’s stock.

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.