Magna International (NYSE:MGA) Reaches New 52-Week High - Time to Buy?

Key Points

• Magna International Inc. reached a new 52-week high of $49.32, with the last trading price at $49.18.
• Analysts have mixed ratings on the stock, with three recommending a Buy, fourteen a Hold, and one a Sell, while the average price target stands at $44.00.
• The company recently reported earnings of $1.44 per share, significantly beating estimates and revealed a quarterly dividend of $0.485, yielding 3.9%.

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG hit a new 52-week high on Monday . The stock traded as high as $49.32 and last traded at $49.18, with a volume of 23275 shares changing hands. The stock had previously closed at $49.00.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Magna International in a research report on Saturday, September 27th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $45.00 target price on shares of Magna International in a research note on Friday, September 12th. Cfra Research raised shares of Magna International to a "hold" rating in a research report on Monday, August 4th. TD Securities lifted their price objective on shares of Magna International from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Magna International from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $44.00.

Magna International Trading Up 1.3%

The business has a fifty day moving average price of $45.11 and a 200-day moving average price of $39.61. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The company has a market cap of $13.99 billion, a P/E ratio of 11.65, a PEG ratio of 1.09 and a beta of 1.53.

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

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.94 annualized dividend and a yield of 3.9%. Magna International's payout ratio is currently 45.54%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MGA. ARGA Investment Management LP increased its stake in shares of Magna International by 17.0% in the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock valued at $101,890,000 after purchasing an additional 436,366 shares during the last quarter. Geode Capital Management LLC increased its holdings in Magna International by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company's stock worth $77,332,000 after purchasing an additional 338,470 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Magna International in the 1st quarter valued at approximately $8,416,000. Quantbot Technologies LP increased its position in Magna International by 3,849.3% in the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock valued at $5,639,000 after acquiring an additional 161,707 shares during the period. Finally, ARK Investment Management LLC bought a new position in Magna International during the 1st quarter worth $5,478,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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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