Magna International Inc. (NYSE:MGA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given an average rating of “Hold” by the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $64.1875.

A number of research analysts have recently issued reports on MGA shares. The Goldman Sachs Group dropped their target price on Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a report on Tuesday, April 14th. Scotiabank raised Magna International from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $69.00 to $72.00 in a report on Friday, April 24th. Citigroup upped their price objective on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Barclays dropped their price objective on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Finally, Wells Fargo & Company dropped their price objective on Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st.

Magna International Trading Down 3.0%

NYSE:MGA opened at $66.10 on Friday. The firm has a market cap of $17.99 billion, a P/E ratio of 27.66, a PEG ratio of 0.92 and a beta of 1.43. 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 stock’s 50 day simple moving average is $60.92 and its 200-day simple moving average is $57.10. Magna International has a 12-month low of $36.31 and a 12-month high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.37. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities analysts anticipate that Magna International will post 6.87 EPS for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s dividend payout ratio is currently 82.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ARGA Investment Management LP grew its holdings 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 period. Geode Capital Management LLC grew its holdings in Magna International by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after acquiring an additional 154,710 shares during the period. Russell Investments Group Ltd. boosted its position in Magna International by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after purchasing an additional 151,819 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Magna International by 14.8% during the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after purchasing an additional 107,150 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Magna International by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock worth $27,215,000 after purchasing an additional 13,439 shares in the last quarter. Institutional investors and hedge funds 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.