Magna International (NYSE:MGA) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $58.51 and traded as high as $67.28. Magna International shares last traded at $65.9970, with a volume of 1,187,216 shares.

Analysts Set New Price Targets

MGA has been the topic of a number of research reports. Zacks Research lowered Magna International from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their target price on Magna International from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Canadian Imperial Bank of Commerce reduced their target price on shares of Magna International to $74.00 in a research report on Monday, May 4th. TD upped their price target on shares of Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Barclays lowered their price target on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and a consensus price target of $65.47.

Magna International Trading Up 1.0%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The firm has a fifty day moving average price of $63.20 and a 200-day moving average price of $58.51.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, May 1st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.37. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. Magna International had a return on equity of 14.01% and a net margin of 1.60%.Magna International’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts anticipate that Magna International Inc. will post 6.87 EPS for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is currently 82.85%.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in Magna International by 19.8% in the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after acquiring an additional 1,123 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Magna International by 14.2% during the second quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock worth $2,196,000 after purchasing an additional 7,073 shares during the last quarter. Syon Capital LLC bought a new stake in Magna International during the third quarter worth $256,000. Quantbot Technologies LP boosted its holdings in shares of Magna International by 65.5% in the 3rd quarter. Quantbot Technologies LP now owns 199,899 shares of the company’s stock valued at $9,471,000 after purchasing an additional 79,133 shares in the last quarter. Finally, 111 Capital acquired a new stake in shares of Magna International in the 3rd quarter valued at $732,000. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.