Scotiabank Has Optimistic Outlook of MGA FY2025 Earnings

Magna International Inc. (NYSE:MGA) (TSE:MG) – Analysts at Scotiabank lifted their FY2025 earnings per share (EPS) estimates for shares of Magna International in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst J. Goldman now anticipates that the company will post earnings of $6.49 per share for the year, up from their prior forecast of $6.34. Scotiabank currently has a “Sector Perform” rating and a $52.00 target price on the stock. The consensus estimate for Magna International’s current full-year earnings is $5.22 per share.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share.

A number of other research analysts also recently weighed in on MGA. UBS Group raised their target price on shares of Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Morgan Stanley cut Magna International from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $43.00 in a research report on Wednesday, September 25th. TD Securities reduced their price target on shares of Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Royal Bank of Canada dropped their price objective on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.65.

Magna International Stock Performance

Shares of MGA opened at $39.50 on Monday. Magna International has a 12 month low of $38.01 and a 12 month high of $59.37. The business’s fifty day simple moving average is $43.35 and its two-hundred day simple moving average is $42.29. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 0.81 and a beta of 1.62.

Magna International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, November 15th. Magna International’s dividend payout ratio (DPR) is currently 50.80%.

Hedge Funds Weigh In On Magna International

Several large investors have recently made changes to their positions in MGA. Toronto Dominion Bank raised its position in shares of Magna International by 1.2% in the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after buying an additional 18,704 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Magna International by 12.5% during the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after purchasing an additional 16,639 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Magna International by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after purchasing an additional 32,000 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Magna International by 117,113.9% in the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after purchasing an additional 84,322 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Magna International by 135.5% during the second quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after buying an additional 93,637 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.