Magna International (NYSE:MGA) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Magna International Inc. (NYSE:MGA) (TSE:MG) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $57.74 and traded as high as $66.87. Magna International shares last traded at $66.6560, with a volume of 728,510 shares trading hands.

Analysts Set New Price Targets

MGA has been the topic of several recent research reports. TD raised their target price on Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company cut their target price on Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Barclays cut their target price on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. The Goldman Sachs Group dropped their price target on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. Finally, Veritas raised shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $64.19.

Magna International Stock Performance

The firm has a market capitalization of $18.15 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The stock has a 50-day moving average of $62.00 and a 200 day moving average of $57.74. 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 issued its quarterly earnings data on Friday, May 1st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.37. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, research analysts anticipate that Magna International Inc. will post 6.87 earnings per share for the current year.

Magna International Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ARGA Investment Management LP boosted its position in shares of Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after purchasing an additional 44,996 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after purchasing an additional 154,710 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Magna International by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after purchasing an additional 151,819 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Magna International by 14.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after purchasing an additional 107,150 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Magna International by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after purchasing an additional 13,439 shares during the last quarter. 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.