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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have earned an average rating of “Hold” from the twenty analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $65.4667.

MGA has been the topic of a number of research analyst reports. Barclays cut their target price on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. Bank of America initiated coverage on Magna International in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. UBS Group cut their target price on Magna International from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. TD lifted their target price on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Zacks Research cut Magna International from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st.

Hedge Funds Weigh In On Magna International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Magna International by 115.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock worth $93,000 after buying an additional 896 shares during the last quarter. Public Employees Retirement System of Ohio grew 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 worth $11,095,000 after buying an additional 60,432 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in shares of Magna International during the first quarter worth about $45,000. Parallel Advisors LLC grew its holdings in shares of Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after buying an additional 275 shares during the last quarter. Finally, Mediolanum International Funds Ltd grew its holdings in shares of Magna International by 83.1% during the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock worth $7,210,000 after buying an additional 61,151 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Stock Down 0.0%

Magna International stock opened at $64.55 on Wednesday. The stock’s fifty day moving average is $63.76 and its two-hundred day moving average is $58.95. The stock has a market cap of $17.57 billion, a PE ratio of 27.01, a P/E/G ratio of 0.88 and a beta of 1.43. Magna International has a 1-year low of $37.87 and a 1-year high of $69.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 1st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, sell-side analysts expect that Magna International will post 6.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.1%. Magna International’s dividend payout ratio (DPR) is currently 82.85%.

About Magna International

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.