Magna International (NYSE:MGA) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other equities research analysts have also commented on the company. Scotiabank upped their target price on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. UBS Group raised their price target 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. Canadian Imperial Bank of Commerce decreased their price objective on shares of Magna International to $74.00 in a research note on Monday, May 4th. TD upped their price objective on shares of Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company upped their price objective on shares of Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.93.

Magna International Stock Up 0.4%

NYSE:MGA opened at $70.24 on Friday. The company has a market cap of $18.78 billion, a PE ratio of 25.45, a P/E/G ratio of 0.76 and a beta of 1.44. Magna International has a twelve month low of $43.11 and a twelve month high of $71.96. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $66.53 and its two-hundred day moving average is $62.06.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. Magna International’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Analysts anticipate that Magna International will post 7.05 EPS for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 14th. Magna International’s payout ratio is currently 71.74%.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently bought and sold shares of MGA. Hillsdale Investment Management Inc. grew its holdings in shares of Magna International by 2.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after buying an additional 16,255 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Magna International by 74.5% in the fourth quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after buying an additional 29,785 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Magna International by 43.5% in the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after buying an additional 60,432 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in Magna International by 83.1% during the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock worth $7,210,000 after acquiring an additional 61,151 shares during the last quarter. Finally, ARGA Investment Management LP boosted its position in Magna International by 1.1% during the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after acquiring an additional 44,996 shares during the last quarter. Hedge funds and other 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.