Magna International (NYSE:MGA) Shares Down 6.9% – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price fell 6.9% during mid-day trading on Monday . The company traded as low as $68.51 and last traded at $68.0390. Approximately 873,672 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,590,020 shares. The stock had previously closed at $73.05.

Wall Street Analyst Weigh In

Several research analysts recently commented on MGA shares. Weiss Ratings upgraded shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Veritas raised Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Barclays raised their price objective on Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Zacks Research downgraded Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One equities 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.20.

Magna International Price Performance

The stock’s 50 day simple moving average is $67.06 and its 200-day simple moving average is $62.79. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts anticipate that Magna International Inc. will post 7.07 EPS for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 14th. Magna International’s payout ratio is presently 71.74%.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in Magna International by 2.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock worth $439,000 after acquiring an additional 215 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Magna International by 2.6% in the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock valued at $486,000 after purchasing an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after purchasing an additional 246 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Magna International by 9.1% in the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after purchasing an additional 275 shares during 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.