Scotiabank Brokers Increase Earnings Estimates for MGA

Magna International Inc. (NYSE:MGA) (TSE:MG) – Equities researchers at Scotiabank lifted their FY2026 earnings per share estimates for shares of Magna International in a note issued to investors on Monday, November 2nd. Scotiabank analyst J. Goldman now expects that the company will post earnings per share of $7.03 for the year, up from their previous forecast of $7.00. Scotiabank has a “Sector Outperform” rating and a $78.00 price target on the stock. The consensus estimate for Magna International’s current full-year earnings is $7.07 per share. Scotiabank also issued estimates for Magna International’s FY2027 earnings at $7.60 EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Magna International from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $72.00 in a research note on Tuesday, September 15th. Wells Fargo & Company raised their target price on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce downgraded Magna International from an “outperformer” rating to a “hold” rating and reduced their price target for the company from $78.00 to $70.00 in a report on Wednesday, October 21st. Wall Street Zen lowered Magna International from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Magna International in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.73.

Magna International Trading Up 4.3%

Shares of MGA opened at $65.65 on Thursday. The stock has a market capitalization of $17.04 billion, a P/E ratio of 21.04, a PEG ratio of 0.67 and a beta of 1.46. Magna International has a twelve month low of $45.33 and a twelve month high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $64.78 and a two-hundred day simple moving average of $62.78.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, October 30th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.25. Magna International had a return on equity of 16.26% and a net margin of 1.99%. The business had revenue of $9.86 billion for the quarter, compared to analysts’ expectations of $10.01 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4950 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 13th. Magna International’s payout ratio is presently 63.46%.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently modified their holdings of MGA. Hillsdale Investment Management Inc. boosted its stake in shares of Magna International by 14.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after purchasing an additional 107,150 shares in the last quarter. Tidal Investments LLC increased its position in shares of Magna International by 57.4% during the second quarter. Tidal Investments LLC now owns 55,783 shares of the company’s stock valued at $3,663,000 after buying an additional 20,347 shares during the period. Nykredit A S bought a new position in Magna International in the second quarter worth about $4,695,000. Plato Investment Management Ltd bought a new position in Magna International in the second quarter worth about $7,473,000. Finally, QV Investors Inc. raised its stake in Magna International by 33.3% in the third quarter. QV Investors Inc. now owns 739,472 shares of the company’s stock worth $47,220,000 after buying an additional 184,631 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

Magna International Inc is a global automotive supplier headquartered in Aurora, Ontario, Canada. The company designs, engineers and manufactures components and systems for automakers, serving vehicle manufacturers across North America, Europe and Asia.

Its products and services span several automotive categories, including body and chassis structures, exterior systems, powertrain and driveline components, seating, vehicle electronics, lighting, mirrors, and advanced driver assistance technologies.