Magna International's (MGA) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for Magna International's stock, while various analysts have issued differing price targets, with Barclays raising the objective to $45.00.
• Magna International reported earnings of $1.44 EPS for the last quarter, exceeding the consensus estimate of $1.19, despite a 3.0% decrease in revenue year-on-year.
• The company has a market capitalization of $13.02 billion and a consensus price target from analysts of $44.29.

Magna International (NYSE:MGA - Get Free Report) TSE: MG's stock had its "hold (c)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently commented on the stock. Barclays lifted their price objective on shares of Magna International from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $45.00 price objective on shares of Magna International in a research note on Friday, September 12th. JPMorgan Chase & Co. raised their target price on shares of Magna International from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wall Street Zen cut shares of Magna International from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 4th. Finally, UBS Group raised their target price on shares of Magna International from $46.00 to $49.00 and gave the stock a "neutral" rating in a report on Monday. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Magna International has an average rating of "Hold" and a consensus price target of $44.29.

Magna International Trading Down 0.7%

NYSE:MGA opened at $46.21 on Wednesday. Magna International has a 12 month low of $30.39 and a 12 month high of $49.79. The firm has a fifty day simple moving average of $45.46 and a 200-day simple moving average of $39.79. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $13.02 billion, a P/E ratio of 10.85, a PEG ratio of 1.03 and a beta of 1.53.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, August 1st. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently modified their holdings of MGA. ARGA Investment Management LP increased its stake in shares of Magna International by 17.0% during the first quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock worth $101,890,000 after purchasing an additional 436,366 shares in the last quarter. Geode Capital Management LLC boosted its position in Magna International by 20.2% during the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company's stock worth $77,332,000 after acquiring an additional 338,470 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Magna International during the first quarter worth about $8,416,000. Quantbot Technologies LP boosted its position in Magna International by 3,849.3% during the first quarter. Quantbot Technologies LP now owns 165,908 shares of the company's stock worth $5,639,000 after acquiring an additional 161,707 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new position in Magna International during the first quarter worth about $5,478,000. Hedge funds and other institutional investors own 67.49% of the company's stock.

About Magna International

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.

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