Magna International (NYSE:MGA) Upgraded by Zacks Research to “Strong-Buy” Rating

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

Several other research firms also recently weighed in on MGA. Barclays lifted their target price on shares of Magna International from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research 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 for the company. Wall Street Zen upgraded shares of Magna International from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. Canadian Imperial Bank of Commerce upgraded Magna International from a “neutral” rating to an “outperformer” rating and increased their target price for the company from $56.00 to $76.00 in a report on Wednesday, February 18th. Finally, UBS Group raised their price objective on Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.73.

Magna International Trading Down 3.4%

Shares of Magna International stock traded down $2.10 on Thursday, reaching $58.80. 1,558,946 shares of the company were exchanged, compared to its average volume of 2,420,046. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $69.94. The firm has a market capitalization of $16.40 billion, a price-to-earnings ratio of 19.93 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $57.61 and a 200-day moving average price of $51.24.

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

Magna International Increases Dividend

The company also recently disclosed 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 payout ratio is 67.12%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. DGS Capital Management LLC lifted its holdings in shares of Magna International by 18.5% during the 4th quarter. DGS Capital Management LLC now owns 44,101 shares of the company’s stock valued at $2,351,000 after buying an additional 6,884 shares during the last quarter. State of Tennessee Department of Treasury raised its position in Magna International by 0.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 157,482 shares of the company’s stock valued at $8,095,000 after acquiring an additional 937 shares in the last quarter. Russell Investments Group Ltd. raised its position in Magna International by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after acquiring an additional 151,819 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Magna International in the fourth quarter valued at approximately $67,000. Finally, Arkadios Wealth Advisors lifted its stake in Magna International by 7.3% in the fourth quarter. Arkadios Wealth Advisors now owns 4,767 shares of the company’s stock valued at $254,000 after acquiring an additional 324 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.