Magna International (NYSE:MGA) Lowered to Hold Rating by BMO Capital Markets

BMO Capital Markets cut shares of Magna International (NYSE:MGA) (TSE:MG) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks reports.

A number of other research firms have also recently weighed in on MGA. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target (down from $77.00) on shares of Magna International in a research note on Tuesday. Royal Bank Of Canada raised their target price on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Barclays boosted their target price on Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Finally, UBS Group boosted their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.07.

Magna International Stock Performance

NYSE:MGA opened at $63.19 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $63.43. Magna International has a 52 week low of $43.11 and a 52 week high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the company earned $1.44 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, equities analysts anticipate that Magna International will post 7.06 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.495 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 3.1%. Magna International’s dividend payout ratio is 71.74%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of 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 during the last quarter. Parallel Advisors LLC raised its holdings in Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after purchasing an additional 275 shares in the last quarter. Syon Capital LLC increased its position in Magna International by 6.1% during the 2nd quarter. Syon Capital LLC now owns 6,319 shares of the company’s stock worth $415,000 after purchasing an additional 361 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Magna International by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,528 shares of the company’s stock valued at $2,429,000 after buying an additional 476 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Magna International by 6.2% in the second quarter. Van ECK Associates Corp now owns 10,156 shares of the company’s stock valued at $667,000 after buying an additional 597 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.