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 report report published on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on MGA. Wells Fargo & Company boosted their target price on shares of Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Barclays boosted their price objective on shares of Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.20.

Magna International Trading Down 0.4%

Shares of NYSE:MGA opened at $65.57 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The stock’s 50-day moving average is $67.12 and its 200-day moving average is $63.31. The company has a market cap of $17.53 billion, a P/E ratio of 23.76, a P/E/G ratio of 0.71 and a beta of 1.44. Magna International has a 52-week low of $43.11 and a 52-week high of $73.22.

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

Magna International Dividend Announcement

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

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently bought and sold shares of MGA. EverSource Wealth Advisors LLC raised its stake in shares of 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 buying an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Magna International in the first quarter valued at about $45,000. IFC & Insurance Marketing Inc. bought a new stake in Magna International in the fourth quarter valued at about $49,000. Atlas Capital Advisors Inc. acquired a new position in Magna International in the fourth quarter worth about $67,000. Finally, Danske Bank A S acquired a new position in Magna International in the third quarter worth about $112,000. Institutional investors 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.