In yesterday’s Wall Street session, Magna International Inc. (NYSE:MGA) shares traded at $63.99, down -0.53% from the previous session.
As of this writing, 19 analysts cover Magna International Inc. (NYSE:MGA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $53.00, we find $64.00. Given the previous closing price of $64.33, this indicates a potential downside of -0.51 percent. MGA stock price is now 13.98% away from the 50-day moving average and 13.47% away from the 200-day moving average. The market capitalization of the company currently stands at $18.15B.
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There are 9 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $63.47 as their price target over the next twelve months.
With the price target enhanced from $65 to $85, BofA Securities Upgraded its rating from Neutral to Buy for Magna International Inc. (NYSE: MGA).
A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MGA stock. A new stake in Magna International Inc. shares was purchased by CANOE FINANCIAL LP during the first quarter worth $72,110,000. HITE HEDGE ASSET MANAGEMENT LLC invested $7,070,000 in shares of MGA during the first quarter. In the first quarter, MARYLAND STATE RETIREMENT & PENSION SYSTEM acquired a new stake in Magna International Inc. valued at approximately $5,129,000. QUANTBOT TECHNOLOGIES LP acquired a new stake in MGA for approximately $3,124,000. UTAH RETIREMENT SYSTEMS purchased a new stake in MGA valued at around $2,112,000 in the second quarter. In total, there are 700 active investors with 72.20% ownership of the company’s stock.
Tuesday morning saw Magna International Inc. (NYSE: MGA) opened at $63.84. During the past 12 months, Magna International Inc. has had a low of $45.58 and a high of $68.92. As of last week, the company has a debt-to-equity ratio of 0.47, a current ratio of 1.30, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $22.65B, which is based on a 41.91 price-to-earnings ratio, a 1.61 price-to-earnings-growth ratio, and a beta of 1.63. The fifty day moving average price for MGA is $56.37 and a two-hundred day moving average price translates $56.48 for the stock.
The latest earnings results from Magna International Inc. (NYSE: MGA) was released for Mar, 2023. According to the Auto Parts Company, earnings per share came in at $1.11, beating analysts’ expectations of $0.85 by 0.26. This compares to $1.27 EPS in the same period last year. The net profit margin was 1.10% and return on equity was 4.00% for MGA. The company reported revenue of $10.67 billion for the quarter, compared to $9.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.69 percent. For the current quarter, analysts expect MGA to generate $10.36B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/02/2023. Investors who held shares on 05/19/2023 were paid a $0.46 dividend. On an annualized basis, this represents a $1.84 dividend and a 2.88% percent yield. There was an ex-dividend date of 05/18/2023 for this dividend. In terms of dividend payout ratio, MGA is presently at 118.20%.
