Magna International (NYSE:MGA) Given New $64.00 Price Target at UBS Group

Magna International (NYSE:MGA) (TSE:MG) had its price target lifted by UBS Group from $62.00 to $64.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

MGA has been the topic of several other reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $57.00 target price on shares of Magna International in a research report on Wednesday, April 29th. The Goldman Sachs Group reduced their price target on Magna International from $60.00 to $52.00 and set a “sell” rating for the company in a research report on Tuesday, April 14th. Zacks Research downgraded Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price objective on Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Finally, Citigroup raised their price objective on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.60.

Magna International Trading Up 2.1%

Shares of NYSE MGA opened at $64.26 on Thursday. The business has a 50 day simple moving average of $64.25 and a 200 day simple moving average of $59.68. Magna International has a 52 week low of $40.51 and a 52 week high of $69.94. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

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

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.495 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. Magna International’s dividend payout ratio is 82.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Community Bank N.A. acquired a new position in shares of Magna International during the third quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its stake in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares during the period. Oslo Pensjonsforsikring AS bought a new position in Magna International during the first quarter valued at about $45,000. IFC & Insurance Marketing Inc. acquired a new position in Magna International in the 4th quarter valued at approximately $49,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Magna International in the 4th quarter valued at approximately $67,000. Institutional investors own 67.49% of the company’s stock.

About Magna International

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.