Analysts’ Recent Ratings Updates for Magna International (MGA)

Several brokerages have updated their recommendations and price targets on shares of Magna International (NYSE: MGA) in the last few weeks:

• 11/4/2024 – Magna International had its price target lowered by analysts at Royal Bank of Canada from $42.00 to $41.00. They now have a “sector perform” rating on the stock.
• 11/4/2024 – Magna International had its price target raised by analysts at Scotiabank from $50.00 to $52.00. They now have a “sector perform” rating on the stock.
• 11/4/2024 – Magna International had its price target raised by analysts at UBS Group AG from $44.00 to $45.00. They now have a “neutral” rating on the stock.
• 11/4/2024 – Magna International had its price target raised by analysts at Wells Fargo & Company from $44.00 to $46.00. They now have an “equal weight” rating on the stock.
• 11/4/2024 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/29/2024 – Magna International had its price target lowered by analysts at Royal Bank of Canada from $47.00 to $42.00. They now have a “sector perform” rating on the stock.
• 10/1/2024 – Magna International had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $44.00 to $41.00. They now have a “neutral” rating on the stock.
• 9/30/2024 – Magna International had its price target lowered by analysts at TD Securities from $53.00 to $52.00. They now have a “buy” rating on the stock.
• 9/25/2024 – Magna International was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $43.00 price target on the stock, down previously from $55.00.
• 9/20/2024 – Magna International had its price target raised by analysts at Wells Fargo & Company from $43.00 to $44.00. They now have an “equal weight” rating on the stock.

Magna International Trading Up 0.0 %

Shares of MGA stock opened at $44.19 on Thursday. Magna International Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The firm has a market capitalization of $12.70 billion, a P/E ratio of 11.82, a PEG ratio of 0.72 and a beta of 1.59. The stock’s fifty day moving average is $41.56 and its two-hundred day moving average is $42.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. Research analysts expect that Magna International Inc. will post 5.3 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.30%. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MGA. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Magna International in the second quarter worth about $28,000. Kennebec Savings Bank acquired a new position in Magna International in the third quarter worth $32,000. Grove Bank & Trust increased its stake in Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after purchasing an additional 343 shares during the last quarter. LRI Investments LLC bought a new position in shares of Magna International in the 1st quarter worth about $36,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after buying an additional 513 shares during the period. 67.49% of the stock is owned by hedge funds and other 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.