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Equities researchers at CIBC lifted their price target on shares of Magna International (NYSE:MGA) from $110.00 to $115.00 in a research report issued on Monday, American Banking News reports. The firm currently has a “sector outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 15.53% from the company’s current price.

Magna International (NYSE:MGA) traded up 1.97% on Monday, hitting $99.54. The stock had a trading volume of 836,345 shares. 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 $97.72 and a 200-day moving average of $88.51. The company has a market cap of $21.814 billion and a P/E ratio of 14.04.

Magna International (NYSE:MGA) last announced its earnings results on Thursday, May 8th. The company reported $1.76 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.57 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Magna International will post $8.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, May 28th.

Other equities research analysts have also recently issued reports about the stock. Analysts at TD Securities raised their price target on shares of Magna International from $110.00 to $115.00 in a research note on Friday. Separately, analysts at BMO Capital Markets raised their price target on shares of Magna International from $108.00 to $110.00 in a research note on Friday. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Magna International from $106.00 to $107.00 in a research note on Friday. They now have a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $106.62.

Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.

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