Magna International (NYSE:MGA) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Magna International (NYSE:MGA) (TSE:MG) in a research note released on Wednesday morning. The brokerage issued a buy rating on the stock.

MGA has been the subject of several other research reports. TD Securities upped their price target on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group boosted their price objective on shares of Magna International from $49.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, February 17th. Raymond James Financial upped their target price on Magna International from $50.00 to $75.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. Evercore increased their target price on Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a research report on Monday, November 24th. Finally, UBS Group lifted their price target on Magna International from $49.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.73.

Magna International Stock Performance

MGA stock opened at $58.80 on Wednesday. Magna International has a 1-year low of $30.39 and a 1-year high of $69.94. The business has a 50-day moving average price of $57.61 and a 200 day moving average price of $51.24. The company has a market capitalization of $16.40 billion, a P/E ratio of 19.93 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.25 and a quick ratio of 0.87.

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

Magna International Increases Dividend

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

Hedge Funds Weigh In On Magna International

Several institutional investors and hedge funds have recently bought and sold shares of MGA. Integrated Wealth Concepts LLC lifted its holdings in shares of Magna International by 19.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after purchasing an additional 1,123 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Magna International by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,557 shares of the company’s stock worth $9,828,000 after purchasing an additional 2,057 shares in the last quarter. Geode Capital Management LLC grew its stake in Magna International by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock worth $77,332,000 after buying an additional 338,470 shares during the last quarter. Western Wealth Management LLC acquired a new position in Magna International during the 2nd quarter valued at about $249,000. Finally, Mediolanum International Funds Ltd acquired a new position in Magna International during the 2nd quarter valued at about $4,618,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.