Recent Research Analysts’ Ratings Updates for Magna International (MGA)

Magna International (NYSE: MGA) has recently received a number of price target changes and ratings updates:

• 5/2/2024 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/24/2024 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/22/2024 – Magna International had its price target raised by analysts at JPMorgan Chase & Co. from $69.00 to $71.00. They now have an “overweight” rating on the stock.
• 4/22/2024 – Magna International had its price target lowered by analysts at TD Securities from $69.00 to $63.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Magna International had its price target lowered by analysts at CIBC from $61.00 to $59.00. They now have a “neutral” rating on the stock.
• 4/16/2024 – Magna International was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/15/2024 – Magna International was downgraded by analysts at Evercore Inc. from an “outperform” rating to an “in-line” rating. They now have a $62.00 price target on the stock, down previously from $75.00.
• 4/11/2024 – Magna International had its price target lowered by analysts at Barclays PLC from $63.00 to $62.00. They now have an “equal weight” rating on the stock.

Magna International Stock Down 0.3 %

Shares of NYSE:MGA opened at $47.64 on Thursday. The company has a 50 day moving average price of $52.28 and a two-hundred day moving average price of $54.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The company has a market capitalization of $13.69 billion, a PE ratio of 11.29, a PEG ratio of 0.48 and a beta of 1.69. Magna International Inc. has a 52 week low of $46.71 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The firm had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. Magna International’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Analysts forecast that Magna International Inc. will post 6.13 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 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, February 22nd. This is a boost from Magna International’s previous quarterly dividend of $0.46. Magna International’s payout ratio is 45.02%.

Institutional Trading of Magna International

A number of large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after buying an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in Magna International during the first quarter worth about $49,000. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after buying an additional 229 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.