Magna International (NYSE:MGA) Given New $59.00 Price Target at Wells Fargo & Company

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by Wells Fargo & Company from $69.00 to $59.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. UBS Group increased their target price on Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada boosted their price target on shares of Magna International from $48.00 to $59.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. TD Securities upped their price target on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Citigroup increased their price objective on shares of Magna International from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. Finally, Barclays cut their price objective on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Magna International presently has a consensus rating of “Hold” and an average target price of $61.93.

Magna International Stock Performance

Shares of MGA stock opened at $55.78 on Tuesday. The company has a market cap of $15.52 billion, a P/E ratio of 18.91 and a beta of 1.43. The business has a 50 day moving average of $57.63 and a two-hundred day moving average of $52.46. Magna International has a 52 week low of $30.39 and a 52 week high of $69.94. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.36.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.37. The business had revenue of $10.74 billion for the quarter, compared to analysts’ expectations of $10.54 billion. Magna International had a return on equity of 12.73% and a net margin of 1.99%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, analysts anticipate that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.495 dividend. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Magna International’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a dividend yield of 3.5%. Magna International’s dividend payout ratio (DPR) is currently 67.12%.

Institutional Investors Weigh In On Magna International

A number of hedge funds and other institutional investors have recently modified their holdings of MGA. DGS Capital Management LLC grew its position in Magna International by 18.5% in the 4th quarter. DGS Capital Management LLC now owns 44,101 shares of the company’s stock valued at $2,351,000 after buying an additional 6,884 shares in the last quarter. State of Tennessee Department of Treasury raised its position in shares of Magna International by 0.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 157,482 shares of the company’s stock worth $8,095,000 after buying an additional 937 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Magna International by 7.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after buying an additional 151,819 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Magna International in the 4th quarter worth approximately $67,000. Finally, Arkadios Wealth Advisors lifted its stake in shares of Magna International by 7.3% in the 4th quarter. Arkadios Wealth Advisors now owns 4,767 shares of the company’s stock worth $254,000 after acquiring an additional 324 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Magna International Company Profile

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.