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

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $68.20.

MGA has been the subject of a number of recent research reports. UBS Group increased their price target on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Citigroup lifted their price objective on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Scotiabank upped their target price on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada raised their price target on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd.

Institutional Investors Weigh In On Magna International

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Magna International by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after purchasing an additional 154,710 shares during the period. TD Waterhouse Canada Inc. increased its stake in Magna International by 10.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock valued at $134,577,000 after buying an additional 206,433 shares during the period. Russell Investments Group Ltd. increased its stake in Magna International by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after buying an additional 151,819 shares during the period. Amundi raised its position in Magna International by 4.2% during the 2nd quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after buying an additional 71,927 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after buying an additional 107,150 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Trading Up 1.4%

NYSE MGA opened at $66.06 on Monday. The firm’s fifty day moving average price is $67.52 and its 200 day moving average price is $63.43. Magna International has a 12 month low of $43.11 and a 12 month high of $73.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. The business had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, sell-side analysts expect that Magna International will post 7.06 earnings per share for the current fiscal year.

Magna International Dividend Announcement

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

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.