TD Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Key Points

• TD lowered Magna International’s price target from $80 to $77 while maintaining a “buy” rating, implying approximately 21.5% upside from the stock’s $63.40 price.
• Analyst sentiment is mixed: Magna has an average “hold” rating and a consensus price target of $69.13, with estimates ranging from “strong buy” to “sell.”
• Magna reported quarterly EPS of $1.86, exceeding the $1.53 consensus estimate, while revenue rose 3.3% year over year to $10.84 billion. Institutional investors own approximately 67.5% of the company.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target decreased by investment analysts at TD from $80.00 to $77.00 in a research note issued on Thursday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price target indicates a potential upside of 21.46% from the stock's current price.

MGA has been the topic of a number of other research reports. UBS Group increased their price objective on shares of Magna International from $62.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Royal Bank Of Canada lifted their target price on shares of Magna International from $66.00 to $69.00 and gave the stock a "sector perform" rating in a research report on Monday, August 3rd. Scotiabank boosted their target price on shares of Magna International from $74.00 to $78.00 and gave the company a "sector outperform" rating in a research note on Monday, August 3rd. Wells Fargo & Company increased their price target on Magna International from $62.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded Magna International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Magna International presently has an average rating of "Hold" and a consensus price target of $69.13.

Magna International Stock Performance

NYSE MGA traded down $1.64 during trading hours on Thursday, hitting $63.40. The company's stock had a trading volume of 876,013 shares, compared to its average volume of 1,518,924. Magna International has a 12 month low of $43.11 and a 12 month high of $73.22. The company's 50 day simple moving average is $66.85 and its two-hundred day simple moving average is $64.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The company has a market cap of $16.79 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.33. The business had revenue of $10.84 billion for the quarter, compared to analysts' expectations of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts expect that Magna International will post 7.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. raised its holdings in Magna International by 10.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company's stock worth $134,577,000 after purchasing an additional 206,433 shares during the period. Amundi increased its position in Magna International by 4.2% in the second quarter. Amundi now owns 1,781,357 shares of the company's stock worth $117,778,000 after buying an additional 71,927 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in Magna International by 14.8% in the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company's stock worth $46,486,000 after buying an additional 107,150 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Magna International in the second quarter worth about $28,495,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Magna International by 43.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company's stock valued at $11,095,000 after buying an additional 60,432 shares in the last quarter. Institutional investors own 67.49% of the company's stock.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.

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