Magna International (NYSE:MGA) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a buy rating to a strong-buy rating in a report published on Friday.

MGA has been the topic of several other reports. Wells Fargo & Company lifted their price objective on Magna International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday. Cfra Research upgraded Magna International to a “hold” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on Magna International from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Evercore ISI increased their price objective on shares of Magna International from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Monday, August 4th. Finally, TD Securities upped their price target on shares of Magna International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.07.

Magna International Stock Performance

NYSE MGA opened at $46.60 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. Magna International has a 52-week low of $30.39 and a 52-week high of $47.79. The business’s 50-day moving average price is $44.58 and its 200 day moving average price is $39.16. The firm has a market cap of $13.13 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.03 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The firm had revenue of $10.82 billion during the quarter, compared to analysts’ expectations of $10.10 billion. During the same period in the prior year, the company posted $1.35 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Magna International will post 5.87 earnings per share for the current year.

Magna International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, August 15th. Magna International’s dividend payout ratio is presently 45.54%.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc bought a new position in Magna International during the first quarter worth about $27,000. LRI Investments LLC bought a new position in Magna International during the second quarter worth about $27,000. Cromwell Holdings LLC grew its holdings in Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after purchasing an additional 466 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after purchasing an additional 1,253 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after purchasing an additional 1,136 shares during the period. Institutional investors own 67.49% of the company’s stock.

About Magna International

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.