Magna International (NYSE:MGA) Rating Increased 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 report released on Sunday.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on Magna International from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. UBS Group boosted their target price on Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. boosted their target price on Magna International from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Finally, Cfra Research upgraded Magna International to a “hold” rating in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.79.

Magna International Price Performance

Shares of MGA opened at $43.55 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. The stock has a 50 day simple moving average of $45.57 and a 200 day simple moving average of $39.93. Magna International has a 52-week low of $30.39 and a 52-week high of $49.79. The firm has a market capitalization of $12.27 billion, a PE ratio of 10.22, a P/E/G ratio of 0.97 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.19 by $0.25. The firm had revenue of $10.82 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. Sell-side analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, August 15th. Magna International’s dividend payout ratio (DPR) is currently 45.54%.

Institutional Trading of Magna International

A number of hedge funds have recently modified their holdings of the stock. ARGA Investment Management LP lifted its stake in shares of Magna International by 3.9% during the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock worth $120,366,000 after buying an additional 116,529 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Magna International by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock worth $77,332,000 after buying an additional 338,470 shares during the last quarter. QV Investors Inc. lifted its stake in shares of Magna International by 0.6% during the 2nd quarter. QV Investors Inc. now owns 651,377 shares of the company’s stock worth $25,129,000 after buying an additional 3,912 shares during the last quarter. Amundi lifted its stake in shares of Magna International by 19.0% during the 1st quarter. Amundi now owns 582,710 shares of the company’s stock worth $19,305,000 after buying an additional 93,189 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Magna International by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 254,557 shares of the company’s stock worth $9,828,000 after buying an additional 2,057 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

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.