Magna International’s (MGA) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a report published on Tuesday morning, MarketBeat reports. They currently have a $72.00 target price on the stock, down from their prior target price of $77.00.

Other analysts also recently issued research reports about the stock. UBS Group boosted their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Scotiabank lifted their price target on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Wall Street Zen cut Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Finally, Morgan Stanley raised their price objective on Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.87.

Magna International Trading Up 1.8%

NYSE:MGA opened at $64.89 on Tuesday. Magna International has a 1 year low of $43.11 and a 1 year high of $73.22. 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 has a fifty day moving average price of $67.51 and a two-hundred day moving average price of $63.43. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 0.68 and a beta of 1.45.

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

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 14th. Magna International’s payout ratio is currently 71.74%.

Institutional Investors Weigh In On Magna International

A number of large investors have recently bought and sold shares of MGA. EverSource Wealth Advisors LLC raised its holdings in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of Magna International during the first quarter valued at $45,000. Camelot Portfolios LLC acquired a new stake in shares of Magna International during the second quarter valued at $211,000. Parallel Advisors LLC increased its position in Magna International by 9.1% during the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after purchasing an additional 275 shares in the last quarter. Finally, denkapparat Operations GmbH purchased a new stake in Magna International during the 2nd quarter worth about $221,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.