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

Magna International (NYSE:MGA) (TSE:MG) had its target price increased by Barclays from $52.00 to $58.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on the company. TD Securities increased their price target on Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Morgan Stanley increased their target price on Magna International from $38.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Evercore ISI raised their price target on Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. upped their price objective on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, UBS Group increased their price objective on shares of Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $52.47.

Magna International Price Performance

Magna International stock opened at $53.21 on Friday. The stock has a market capitalization of $14.91 billion, a P/E ratio of 14.54 and a beta of 1.50. Magna International has a 12-month low of $30.39 and a 12-month high of $57.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. The firm’s 50-day moving average is $52.35 and its two-hundred day moving average is $47.72.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that Magna International will post 5.87 earnings per share for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s payout ratio is currently 53.01%.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in Magna International by 153.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,182 shares of the company’s stock valued at $383,000 after buying an additional 4,343 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Magna International in the fourth quarter worth $200,000. Kendall Capital Management raised its stake in shares of Magna International by 4.5% in the 4th quarter. Kendall Capital Management now owns 9,230 shares of the company’s stock valued at $492,000 after acquiring an additional 395 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of Magna International during the 3rd quarter valued at $8,606,000. Finally, Danske Bank A S purchased a new stake in Magna International during the 3rd quarter worth $112,000. Institutional investors and hedge funds 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.