Analysts’ Weekly Ratings Updates for Magna International (MGA)

Posted by on Apr 28th, 2023

Several brokerages have updated their recommendations and price targets on shares of Magna International (NYSE: MGA) in the last few weeks:

  • 4/26/2023 – Magna International was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/18/2023 – Magna International was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $52.00 price target on the stock, down previously from $58.00.
  • 4/17/2023 – Magna International had its price target lowered by analysts at Barclays PLC from $60.00 to $58.00. They now have an “equal weight” rating on the stock.
  • 4/12/2023 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 4/10/2023 – Magna International had its price target raised by analysts at Wells Fargo & Company from $51.00 to $52.00. They now have an “equal weight” rating on the stock.
  • 3/18/2023 – Magna International was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 3/10/2023 – Magna International was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Magna International Stock Down 0.2 %

Shares of MGA stock opened at $51.84 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 0.25. Magna International Inc. has a twelve month low of $45.58 and a twelve month high of $68.92. The stock has a 50 day moving average of $53.23 and a 200 day moving average of $56.78. The stock has a market cap of $14.83 billion, a P/E ratio of 25.79, a P/E/G ratio of 0.58 and a beta of 1.59.

Magna International (NYSE:MGA – Get Rating) (TSE:MG) last posted its quarterly earnings data on Friday, February 10th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.33). The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.51 billion. Magna International had a net margin of 1.56% and a return on equity of 10.49%. Magna International’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. As a group, sell-side analysts expect that Magna International Inc. will post 4.51 EPS for the current year.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.55%. This is a positive change from Magna International’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 23rd. Magna International’s payout ratio is presently 91.54%.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Magna International by 6.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,017 shares of the company’s stock valued at $143,000 after acquiring an additional 189 shares in the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of Magna International by 0.4% in the fourth quarter. Stanley Laman Group Ltd. now owns 51,486 shares of the company’s stock valued at $2,892,000 after buying an additional 192 shares during the period. Resources Management Corp CT ADV lifted its stake in shares of Magna International by 4.4% in the third quarter. Resources Management Corp CT ADV now owns 5,483 shares of the company’s stock valued at $260,000 after buying an additional 232 shares during the period. SG Americas Securities LLC lifted its stake in shares of Magna International by 2.7% in the third quarter. SG Americas Securities LLC now owns 17,621 shares of the company’s stock valued at $836,000 after buying an additional 465 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Magna International by 11.7% in the third quarter. Van ECK Associates Corp now owns 4,455 shares of the company’s stock valued at $211,000 after buying an additional 468 shares during the period. Institutional investors own 59.63% of the company’s stock.

Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.

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