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

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $63.1250.

Several equities research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce decreased their price objective on shares of Magna International to $74.00 in a research note on Monday, May 4th. Barclays decreased their price objective on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th. JPMorgan Chase & Co. decreased their price objective on shares of Magna International from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Zacks Research downgraded shares of Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Citigroup increased their price objective on shares of Magna International from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd.

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC grew its stake 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 valued at $93,000 after acquiring an additional 896 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Magna International by 43.5% in the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after acquiring an additional 60,432 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Magna International in the first quarter valued at about $45,000. Parallel Advisors LLC grew its stake in Magna International by 9.1% during the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after purchasing an additional 275 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in Magna International by 83.1% during the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after purchasing an additional 61,151 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Price Performance

Magna International stock opened at $68.15 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. Magna International has a 1 year low of $35.86 and a 1 year high of $69.94. The firm has a 50 day moving average price of $60.45 and a 200 day moving average price of $56.90. The company has a market cap of $18.55 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 0.92 and a beta of 1.43.

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

Magna International Dividend Announcement

The company 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. This represents a $1.98 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is presently 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.