Magna International (MG) Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Magna International in the last year. There are currently 2 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MG shares.
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5 equities research analysts have issued 1 year target prices for Magna International's stock. Their MG share price forecasts range from C$54.00 to C$83.00. On average, they expect the company's stock price to reach C$70.20 in the next twelve months. This suggests a possible upside of 2.2% from the stock's current price.
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Magna International's stock was trading at C$76.06 at the beginning of the year. Since then, MG stock has decreased by 9.7% and is now trading at C$68.72.
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The company is scheduled to release its next quarterly earnings announcement on Friday, August 4th 2023.
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Magna International announced a quarterly dividend on Friday, May 5th. Investors of record on Friday, May 19th will be given a dividend of 0.623 per share on Friday, June 2nd. This represents a $2.49 annualized dividend and a yield of 3.63%. The ex-dividend date is Thursday, May 18th. This is an increase from the stock's previous quarterly dividend of C$0.61.
Read our dividend analysis for MG.

Magna International (TSE:MG) pays an annual dividend of C$2.48 per share and currently has a dividend yield of 3.60%. The dividend payout ratio is 116.43%. Payout ratios above 75% are not desirable because they may not be sustainable.
Read our dividend analysis for MG.

Based on aggregate information from My MarketBeat watchlists, some companies that other Magna International investors own include Magna International (MGA), Toronto-Dominion Bank (TD), Royal Bank of Canada (RY), Bank of Nova Scotia (BNS), Manulife Financial (MFC), BCE (BCE), Enbridge (ENB), Canadian Natural Resources (CNQ), National Bank of Canada (NA) and Suncor Energy (SU).

Magna International trades on the Toronto Stock Exchange (TSX) under the ticker symbol "MG."

Shares of MG stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
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One share of MG stock can currently be purchased for approximately C$68.72.

Magna International (TSE:MG) has a market capitalization of C$19.66 billion and generates C$38.87 billion in revenue each year. The company earns C$437 million in net income (profit) each year or C$2.13 on an earnings per share basis.

The company employs 161,000 workers across the globe.

Magna International's mailing address is 337 Magna Dr, AURORA, ON L4G 7K1, Canada. The official website for the company is www.magna.com. The company can be reached via phone at +1-905-7262462.