Magna International (NYSE:MGA) Price Target Lowered to $66.00 at Barclays

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by Barclays from $67.00 to $66.00 in a research report released on Monday, Marketbeat.com reports. Barclays currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the company. 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 report on Tuesday, February 17th. Citigroup raised their price target 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. Zacks Research upgraded Magna International from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Wells Fargo & Company raised their price objective on shares of Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.87.

Magna International Stock Performance

NYSE:MGA opened at $53.43 on Monday. The stock’s 50-day moving average is $57.59 and its 200-day moving average is $52.40. Magna International has a 1-year low of $30.39 and a 1-year high of $69.94. 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 stock has a market cap of $14.86 billion, a P/E ratio of 18.11 and a beta of 1.42.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 13th. The company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. The business had revenue of $10.74 billion during 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.69 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $0.495 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, February 27th. Magna International’s payout ratio is presently 67.12%.

Institutional Trading of Magna International

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after purchasing an additional 205 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Magna International by 2.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock valued at $439,000 after buying an additional 215 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Magna International by 2.6% in the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock worth $486,000 after buying an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after acquiring an additional 246 shares during the period. 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 acquiring an additional 324 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.