Magna International (NYSE:MGA) Price Target Lowered to $57.00 at Royal Bank Of Canada

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by Royal Bank Of Canada from $59.00 to $57.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

MGA has been the topic of several other research reports. The Goldman Sachs Group raised their price target on shares of Magna International from $49.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, February 17th. Morgan Stanley increased their target price on shares of Magna International from $54.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 18th. Zacks Research upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. TD Securities lifted their price target on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company reduced their price target on Magna International from $69.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. One equities research 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’s stock. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of $61.80.

Magna International Trading Up 0.6%

Magna International stock opened at $58.20 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.36. Magna International has a 12 month low of $31.52 and a 12 month high of $69.94. The stock’s 50 day simple moving average is $58.26 and its two-hundred day simple moving average is $53.08. The firm has a market cap of $15.97 billion, a PE ratio of 19.73 and a beta of 1.44.

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

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.495 per share. This is a boost from Magna International’s previous quarterly dividend of $0.49. This represents a $1.98 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, February 27th. Magna International’s dividend payout ratio (DPR) is currently 67.12%.

Institutional Trading of Magna International

Several institutional investors have recently modified their holdings of MGA. ARGA Investment Management LP increased its stake in shares of Magna International by 1.1% during the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after purchasing an additional 44,996 shares in the last quarter. Geode Capital Management LLC lifted its stake in Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after buying an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Magna International by 7.8% in 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 during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Magna International by 2.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after buying an additional 16,255 shares during the last quarter. Finally, AGF Management Ltd. purchased a new stake in Magna International during the 3rd quarter worth approximately $14,191,000. 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.