JPMorgan Chase & Co. Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by JPMorgan Chase & Co. from $71.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.10% from the company’s previous close.

Several other research analysts have also weighed in on the company. Scotiabank lifted their price objective on Magna International from $57.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised Magna International from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $56.00 to $76.00 in a research report on Wednesday, February 18th. Citigroup lifted their price objective on Magna International from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Morgan Stanley raised their target price on Magna International from $54.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.40.

Magna International Stock Up 1.3%

Shares of MGA opened at $63.00 on Thursday. The company has a market capitalization of $17.28 billion, a PE ratio of 21.36 and a beta of 1.44. Magna International has a 12 month low of $32.54 and a 12 month high of $69.94. The stock’s 50-day moving average price is $58.97 and its two-hundred day moving average price is $53.78. 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 (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.37. Magna International had a return on equity of 12.73% and a net margin of 1.99%.The firm had revenue of $10.74 billion during the quarter, compared to analyst estimates of $10.54 billion. During the same period last year, the company posted $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. On average, analysts anticipate that Magna International will post 6.82 EPS for the current year.

Hedge Funds Weigh In On Magna International

Several large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in Magna International by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,528 shares of the company’s stock valued at $2,429,000 after acquiring an additional 476 shares in the last quarter. SG Americas Securities LLC lifted its position in Magna International by 498.4% in the 1st quarter. SG Americas Securities LLC now owns 13,931 shares of the company’s stock valued at $777,000 after acquiring an additional 11,603 shares in the last quarter. DGS Capital Management LLC lifted 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 acquiring an additional 6,884 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in Magna International by 0.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 157,482 shares of the company’s stock valued at $8,095,000 after acquiring an additional 937 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position 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 valued at $111,549,000 after acquiring an additional 151,819 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

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.