Scotiabank Analysts Decrease Earnings Estimates for MGA

Magna International Inc. (NYSE:MGA) (TSE:MG) – Scotiabank cut their FY2026 earnings per share (EPS) estimates for shares of Magna International in a report issued on Thursday, July 23rd. Scotiabank analyst J. Goldman now expects that the company will post earnings per share of $6.63 for the year, down from their previous estimate of $6.83. Scotiabank has a “Sector Outperform” rating and a $74.00 price objective on the stock. The consensus estimate for Magna International’s current full-year earnings is $6.82 per share. Scotiabank also issued estimates for Magna International’s FY2027 earnings at $7.46 EPS.

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

A number of other analysts also recently issued reports on MGA. Wells Fargo & Company dropped their price target on shares of Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Canadian Imperial Bank of Commerce cut their price objective on Magna International to $74.00 in a report on Monday, May 4th. Citigroup increased their target price on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. cut their price target on Magna International from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.73.

Magna International Price Performance

NYSE MGA opened at $65.63 on Friday. Magna International has a one year low of $40.51 and a one year high of $69.94. The stock has a 50-day moving average of $65.10 and a 200 day moving average of $60.58. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 0.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

Hedge Funds Weigh In On Magna International

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew 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 valued at $42,000 after purchasing an additional 205 shares during the period. 1620 Investment Advisors Inc. boosted its holdings in Magna International by 2.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock worth $439,000 after buying an additional 215 shares during the period. Van ECK Associates Corp increased its stake in Magna International by 2.6% in the 4th quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock worth $486,000 after buying an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Magna International by 1.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after buying an additional 246 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Magna International by 9.1% in the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after acquiring an additional 275 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th 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, May 15th. Magna International’s dividend payout ratio is 82.85%.

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.