Magna International (NYSE:MGA) Upgraded at Zacks Research

Zacks Research upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. Wells Fargo & Company boosted their target price on Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Raymond James Financial upped their price target on Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, February 17th. Bank of America started coverage on shares of Magna International in a research note on Wednesday. They issued a “buy” rating on the stock. Finally, Morgan Stanley raised their price objective on shares of Magna International from $54.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.73.

Magna International Stock Performance

Shares of MGA stock opened at $58.80 on Thursday. The firm has a market cap of $16.40 billion, a P/E ratio of 19.93 and a beta of 1.43. The firm’s 50 day moving average price is $57.61 and its 200-day moving average price is $51.29. Magna International has a one year low of $30.39 and a one year high of $69.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.87 and a current ratio of 1.25.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 13th. The company reported $2.18 EPS for the quarter, beating the consensus estimate of $1.81 by $0.37. Magna International had a return on equity of 12.73% and a net margin of 1.99%.The firm had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Magna International’s revenue for the quarter was up 2.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities research analysts predict that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.495 per share. This is a boost from Magna International’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, February 27th. Magna International’s dividend payout ratio is 67.12%.

Hedge Funds Weigh In On Magna International

A number of large investors have recently bought and sold shares of MGA. Community Bank N.A. purchased a new stake in shares of Magna International in the third quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in Magna International in the fourth quarter valued at about $49,000. Atlas Capital Advisors Inc. acquired a new stake in Magna International in the fourth quarter valued at about $67,000. Finally, Danske Bank A S purchased a new stake in Magna International in the 3rd quarter valued at approximately $112,000. Hedge funds and other 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.