Magna International (NYSE:MGA) Upgraded 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 Sunday morning.

Other equities research analysts have also recently issued research reports about the stock. UBS Group lifted their target price on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Cfra Research upgraded shares of Magna International to a “hold” rating in a research report on Monday, August 4th. Evercore ISI upped their price objective on shares of Magna International from $40.00 to $47.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.57.

Magna International Trading Up 1.3%

MGA stock opened at $49.84 on Friday. Magna International has a 12-month low of $30.39 and a 12-month high of $50.35. The business’s 50-day moving average is $46.60 and its 200 day moving average is $42.12. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.00 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.09. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. Magna International has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.9%. Magna International’s dividend payout ratio is currently 53.01%.

Hedge Funds Weigh In On Magna International

Several large investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Magna International in the third quarter valued at $33,593,000. Syon Capital LLC purchased a new stake in Magna International during the 3rd quarter worth about $256,000. Leuthold Group LLC raised its position in Magna International by 1,057.9% in the 3rd quarter. Leuthold Group LLC now owns 116,279 shares of the company’s stock valued at $5,509,000 after purchasing an additional 106,237 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Magna International in the 3rd quarter valued at about $1,880,000. Finally, AGF Management Ltd. purchased a new position in shares of Magna International in the 3rd quarter valued at about $14,191,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

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.