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

Key Points

• Scotiabank raised Magna International’s price target from $74 to $78 and maintained a “sector outperform” rating, implying 14.72% upside from the current price.
• Analyst sentiment remains mixed: Magna has a consensus “Hold” rating and an average price target of $67.33, with ratings ranging from Strong Buy to Sell.
• Magna exceeded quarterly expectations, reporting $1.86 EPS versus the $1.53 consensus and revenue of $10.84 billion, up 3.3% year over year.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price boosted by analysts at Scotiabank from $74.00 to $78.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective points to a potential upside of 14.72% from the stock's current price.

Several other analysts also recently weighed in on MGA. Wells Fargo & Company boosted their price objective on shares of Magna International from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Monday. The Goldman Sachs Group reduced their target price on Magna International from $60.00 to $52.00 and set a "sell" rating for the company in a report on Tuesday, April 14th. Zacks Research downgraded Magna International from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce reduced their price objective on Magna International to $74.00 in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Magna International from $71.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, Magna International presently has a consensus rating of "Hold" and an average target price of $67.33.

Magna International Stock Down 0.9%

Shares of MGA traded down $0.61 during midday trading on Monday, reaching $67.99. The stock had a trading volume of 631,602 shares, compared to its average volume of 1,639,131. 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's fifty day simple moving average is $65.83 and its two-hundred day simple moving average is $61.06. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 0.93 and a beta of 1.44. Magna International has a 1-year low of $40.87 and a 1-year high of $70.36.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 14.87% and a net margin of 1.80%.The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $1.44 EPS. Magna International's revenue for the quarter was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts expect that Magna International will post 6.91 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

A number of large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company's stock valued at $42,000 after purchasing an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Magna International during the 1st quarter worth $45,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Magna International during the 4th quarter worth $49,000. Atlas Capital Advisors Inc. acquired a new position in Magna International in the 4th quarter valued at $67,000. Finally, Danske Bank A S acquired a new position in Magna International in the 3rd quarter valued at $112,000. Institutional investors own 67.49% of the company's stock.

Magna International Company Profile

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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