Magna International (NYSE:MGA) Receives “Hold (C)” Rating from Weiss Ratings

Magna International (NYSE:MGA) (TSE:MG)‘s stock had its “hold (c)” rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Evercore ISI boosted their price target on shares of Magna International from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 4th. JPMorgan Chase & Co. upped their target price on shares of Magna International from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Bank of America upped their target price on shares of Magna International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Finally, Cfra Research raised shares of Magna International to a “hold” rating in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.29.

Magna International Stock Performance

NYSE:MGA opened at $46.21 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.82. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.03 and a beta of 1.53. The company’s 50-day moving average is $45.46 and its two-hundred day moving average is $39.79. Magna International has a 1-year low of $30.39 and a 1-year high of $49.79.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.25. The business had revenue of $10.82 billion for the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. Analysts forecast that Magna International will post 5.87 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of large investors have recently modified their holdings of the company. Steph & Co. boosted its holdings in shares of Magna International by 51.6% in the 3rd quarter. Steph & Co. now owns 6,578 shares of the company’s stock valued at $312,000 after buying an additional 2,240 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Magna International by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock valued at $2,196,000 after buying an additional 7,073 shares in the last quarter. Leuthold Group LLC acquired a new position in shares of Magna International in the 2nd quarter valued at $388,000. RiverFront Investment Group LLC acquired a new stake in Magna International during the 2nd quarter worth $213,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Magna International during the 2nd quarter worth $4,618,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.