Barclays Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Key Points

• Barclays has raised Magna International's price target from $45.00 to $52.00, indicating a potential upside of 16.59% based on the company's previous closing price.
• Currently, Magna International has a consensus rating of "Hold" from analysts, with three giving a Buy rating, fourteen assigning a Hold rating, and one providing a Sell rating.
• Magna International recently reported earnings of $1.44 per share, surpassing expectations of $1.19, with revenues of $10.82 billion for the quarter, slightly lower than last year's figures.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective increased by analysts at Barclays from $45.00 to $52.00 in a report released on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target points to a potential upside of 16.59% from the company's previous close.

A number of other brokerages also recently commented on MGA. UBS Group raised their price objective on Magna International from $46.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday. CIBC reissued a "neutral" rating and issued a $47.00 target price (up from $46.00) on shares of Magna International in a report on Tuesday, August 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Magna International in a report on Wednesday. Cfra Research raised Magna International to a "hold" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company dropped their price target on Magna International from $46.00 to $45.00 and set an "equal weight" rating for the company in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Magna International presently has a consensus rating of "Hold" and a consensus target price of $44.79.

Magna International Stock Up 0.1%

NYSE:MGA traded up $0.06 during trading hours on Friday, hitting $44.60. 90,156 shares of the company's stock traded hands, compared to its average volume of 1,730,164. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. Magna International has a twelve month low of $30.39 and a twelve month high of $49.79. The stock's fifty day moving average price is $45.53 and its two-hundred day moving average price is $39.84. The firm has a market cap of $12.57 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.03 and a beta of 1.53.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, August 1st. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.25. The company had revenue of $10.82 billion for the quarter, compared to analyst estimates of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The business's revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. On average, research analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Trading of Magna International

A number of hedge funds and other institutional investors have recently modified their holdings of MGA. ARGA Investment Management LP increased its position in Magna International by 3.9% during the second quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company's stock worth $120,366,000 after buying an additional 116,529 shares during the last quarter. Geode Capital Management LLC increased its position in Magna International by 20.2% during the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company's stock worth $77,332,000 after buying an additional 338,470 shares during the last quarter. QV Investors Inc. increased its position in Magna International by 0.6% during the second quarter. QV Investors Inc. now owns 651,377 shares of the company's stock worth $25,129,000 after buying an additional 3,912 shares during the last quarter. Amundi increased its position in Magna International by 19.0% during the first quarter. Amundi now owns 582,710 shares of the company's stock worth $19,305,000 after buying an additional 93,189 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Magna International by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 254,557 shares of the company's stock worth $9,828,000 after buying an additional 2,057 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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