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

Key Points

• Scotiabank raised its price target on Magna International from $72 to $74 and maintained a sector outperform rating, implying about 11% upside from the current price.
• Other analysts remain mixed: recent target changes range from $52 to $76, and MarketBeat says Magna’s overall consensus is Hold with an average price target of $65.73.
• Magna’s stock was up slightly at $66.62, and the company recently beat quarterly EPS estimates, reporting $1.38 per share versus expectations of $1.01 while revenue rose 3.1% year over year.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price increased by stock analysts at Scotiabank from $72.00 to $74.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 11.07% from the company's current price.

Several other analysts also recently issued reports on MGA. Royal Bank Of Canada lifted their price target on shares of Magna International to $57.00 and gave the company a "sector perform" rating in a research report on Monday, July 13th. TD raised their price objective on shares of Magna International from $75.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Citigroup lifted their price objective on shares of Magna International from $58.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, June 4th. UBS Group boosted their target price on shares of Magna International from $62.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Magna International from $60.00 to $52.00 and set a "sell" rating on the stock in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Magna International presently has an average rating of "Hold" and an average price target of $65.73.

Magna International Stock Up 0.2%

Magna International stock traded up $0.16 during midday trading on Monday, reaching $66.62. The stock had a trading volume of 38,495 shares, compared to its average volume of 1,646,779. Magna International has a 12 month low of $40.51 and a 12 month high of $69.94. The company has a market capitalization of $17.82 billion, a P/E ratio of 27.93, a PEG ratio of 0.90 and a beta of 1.44. The company has a fifty day moving average price of $64.66 and a two-hundred day moving average price of $60.17. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, May 1st. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.37. The firm had revenue of $10.13 billion during the quarter, compared to analysts' expectations of $10.14 billion. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The company's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts expect that Magna International will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company's stock worth $42,000 after purchasing an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Magna International during the 1st quarter worth approximately $45,000. IFC & Insurance Marketing Inc. bought a new position in shares of Magna International during the 4th quarter worth approximately $49,000. Atlas Capital Advisors Inc. purchased a new position in shares of Magna International in the 4th quarter worth approximately $67,000. Finally, Danske Bank A S purchased a new position in shares of Magna International in the 3rd quarter worth approximately $112,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna's broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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