Magna International (NYSE:MGA) Upgraded at Wall Street Zen

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

Several other equities analysts have also weighed in on MGA. Scotiabank lifted their price target on Magna International from $38.00 to $44.00 and gave the company a “sector perform” rating in a research note on Monday, July 14th. Barclays boosted their price objective on Magna International from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Bank of America boosted their price objective on Magna International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Wells Fargo & Company cut their price objective on Magna International from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, October 3rd. Finally, TD Securities boosted their price objective on Magna International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.29.

Magna International Price Performance

Shares of Magna International stock opened at $44.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. Magna International has a twelve month low of $30.39 and a twelve month high of $49.79. The business has a 50-day moving average price of $45.69 and a 200 day moving average price of $40.03. The firm has a market cap of $12.67 billion, a PE ratio of 10.56, a P/E/G ratio of 0.98 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share 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 firm had revenue of $10.82 billion during the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the previous year, the business earned $1.35 EPS. Magna International’s revenue for the quarter was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. Sell-side analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, August 15th. Magna International’s payout ratio is currently 45.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cromwell Holdings LLC boosted its holdings in shares of Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after purchasing an additional 466 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Magna International during the 2nd quarter worth approximately $27,000. Integrated Wealth Concepts LLC lifted its holdings in Magna International by 19.8% in the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after acquiring an additional 1,123 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Magna International by 507.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock valued at $51,000 after acquiring an additional 1,253 shares during the last quarter. 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.