Magna International (NYSE:MGA) Given New $74.00 Price Target at Scotiabank

Magna International (NYSE:MGA) (TSE:MG) had its price objective increased by Scotiabank from $72.00 to $74.00 in a research report report published on Monday morning, Marketbeat.com reports. The brokerage currently has a sector outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their price target on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research note on Tuesday, April 14th. Zacks Research cut shares of Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. UBS Group boosted their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Citigroup upped their target price on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.73.

Magna International Stock Down 0.6%

Magna International stock opened at $66.06 on Monday. The stock’s 50 day moving average price is $64.74 and its 200 day moving average price is $60.26. Magna International has a 1-year low of $40.51 and a 1-year high of $69.94. The company has a market cap of $17.67 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Magna International’s revenue was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, sell-side analysts predict that Magna International will post 6.86 EPS for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. Magna International’s dividend payout ratio is currently 82.85%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its position in shares of Magna International by 35.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in Magna International during the 1st quarter valued at $45,000. IFC & Insurance Marketing Inc. purchased a new position in Magna International during the fourth quarter worth $49,000. Atlas Capital Advisors Inc. purchased a new position in Magna International during the fourth quarter worth $67,000. Finally, Danske Bank A S acquired a new position in shares of Magna International in the third quarter worth $112,000. 67.49% of the stock is owned by hedge funds and other 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.