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

Key Points

• BMO Capital Markets downgraded Magna International from “strong buy” to “hold,” while the broader analyst consensus remains “hold” with an average price target of $69.07.
• Magna reported quarterly EPS of $1.86, exceeding estimates of $1.53, while revenue reached $10.84 billion, up 3.3% year over year and above expectations.
• The stock opened at $63.19, down 2.5%, with a market capitalization of approximately $16.74 billion; institutional investors and hedge funds own 67.49% of its shares.

Magna International (NYSE:MGA - Get Free Report) TSE: MG was downgraded by stock analysts at BMO Capital Markets from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other brokerages also recently issued reports on MGA. UBS Group boosted their price objective on Magna International from $62.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Citigroup lifted their target price on Magna International from $58.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Magna International from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price target 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. Finally, Wall Street Zen lowered Magna International from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $69.07.

Magna International Stock Down 2.5%

MGA stock opened at $63.19 on Thursday. The stock has a market cap of $16.74 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The firm's 50-day simple moving average is $67.49 and its 200 day simple moving average is $63.43. Magna International has a fifty-two week low of $43.11 and a fifty-two week high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the business posted $1.44 EPS. Magna International's revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts predict that Magna International will post 7.06 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of institutional investors and hedge funds have recently bought and sold shares of MGA. EverSource Wealth Advisors LLC grew its stake in shares of Magna International by 35.7% in the 4th 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. Oslo Pensjonsforsikring AS acquired a new stake in Magna International during the first quarter valued at approximately $45,000. Camelot Portfolios LLC acquired a new stake in Magna International during the second quarter valued at approximately $211,000. Parallel Advisors LLC boosted 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 buying an additional 275 shares in the last quarter. Finally, denkapparat Operations GmbH acquired a new position in Magna International in the second quarter worth approximately $221,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.