Magna International PT Raised to $125.00 at Morgan Stanley (MGA)
Morgan Stanley hoisted their target price on shares of Magna International (NYSE:MGA) from $110.00 to $125.00 in a research note issued on Friday, American Banking News.com reports. Morgan Stanley’s price target indicates a potential upside of 28.05% from the stock’s previous close.
A number of other analysts have also recently weighed in on MGA. Analysts at UBS AG reiterated a “neutral” rating on shares of Magna International in a research note on Thursday. They now have a $101.00 price target on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Magna International in a research note on Wednesday. They now have a $117.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Magna International from $103.00 to $102.00 in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Magna International has a consensus rating of “Buy” and a consensus target price of $98.48.
Shares of Magna International (NYSE:MGA) opened at 97.62 on Friday. Magna International has a 52 week low of $62.92 and a 52 week high of $101.65. The stock has a 50-day moving average of $97.60 and a 200-day moving average of $88.37. The company has a market cap of $21.450 billion and a price-to-earnings ratio of 14.50.
Magna International (NYSE:MGA) last released its earnings data on Thursday, May 8th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by $0.22. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.91 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Magna International will post $8.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, May 28th.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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