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

Magna International (NYSE:MGA) (TSE:MG) had its price target increased by Citigroup from $55.00 to $58.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently issued reports on MGA. Scotiabank raised their price target on shares of Magna International from $57.00 to $69.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. TD Securities increased their price objective on Magna International from $58.00 to $75.00 and gave the stock a “buy” 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 raised their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, February 18th. Bank of America initiated coverage on Magna International in a research report on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Raymond James Financial upped their price target on Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Magna International presently has a consensus rating of “Hold” and an average target price of $61.93.

Magna International Stock Performance

MGA opened at $53.80 on Monday. Magna International has a twelve month low of $30.39 and a twelve month high of $69.94. The firm has a market capitalization of $14.97 billion, a PE ratio of 18.24 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $57.70 and its 200 day moving average price is $52.09.

Magna International (NYSE:MGA) (TSE:MG) last released its 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 analyst estimates of $10.54 billion. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.69 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, sell-side analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.495 per share. This is a boost from Magna International’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, February 27th. This represents a $1.98 dividend on an annualized basis and a yield of 3.7%. Magna International’s dividend payout ratio (DPR) is currently 67.12%.

Hedge Funds Weigh In On Magna International

Several institutional investors have recently modified their holdings of the business. DGS Capital Management LLC increased its position in shares of Magna International by 18.5% during the fourth quarter. DGS Capital Management LLC now owns 44,101 shares of the company’s stock worth $2,351,000 after acquiring an additional 6,884 shares during the period. State of Tennessee Department of Treasury boosted its holdings in Magna International by 0.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 157,482 shares of the company’s stock valued at $8,095,000 after purchasing an additional 937 shares during the period. Russell Investments Group Ltd. grew its stake in 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 purchasing an additional 151,819 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Magna International during the 4th quarter worth $67,000. Finally, Arkadios Wealth Advisors increased its holdings in Magna International by 7.3% during the 4th quarter. Arkadios Wealth Advisors now owns 4,767 shares of the company’s stock worth $254,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds 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.