Magna International (NYSE:MGA) Upgraded to “Strong-Buy” 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 Saturday.

Other research analysts also recently issued reports about the stock. Barclays lifted their target price on shares of Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. UBS Group boosted their price objective on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup upped their price objective on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.20.

Magna International Stock Up 0.2%

MGA opened at $65.86 on Friday. Magna International has a twelve month low of $43.11 and a twelve month high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $67.13 and its two-hundred day moving average price is $63.19. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.71 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, equities analysts expect that Magna International will post 7.07 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. Magna International’s dividend payout ratio (DPR) is currently 71.74%.

Institutional Trading of Magna International

A number of hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. boosted its holdings in Magna International by 2.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after acquiring an additional 16,255 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Magna International by 74.5% during the fourth quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after acquiring an additional 29,785 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Magna International by 43.5% during the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock valued at $11,095,000 after acquiring an additional 60,432 shares in the last quarter. Mediolanum International Funds Ltd raised its position in shares of Magna International by 83.1% in the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock worth $7,210,000 after purchasing an additional 61,151 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Magna International by 39.6% in the 4th quarter. Systematic Financial Management LP now owns 68,300 shares of the company’s stock worth $3,640,000 after purchasing an additional 19,390 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

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.