Scotiabank Boosts Earnings Estimates for Magna International

Magna International Inc. (NYSE:MGA) (TSE:MG) – Equities researchers at Scotiabank increased their FY2025 earnings per share estimates for shares of Magna International in a research report issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now anticipates that the company will post earnings per share of $6.49 for the year, up from their prior estimate of $6.34. Scotiabank currently has a “Sector Perform” rating and a $52.00 price objective 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 posted its quarterly earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. UBS Group upped their price target on Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. TD Securities lowered their target price on shares of Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Magna International currently has an average rating of “Hold” and an average price target of $49.88.

Magna International Price Performance

Shares of Magna International stock opened at $40.47 on Monday. Magna International has a twelve month low of $38.01 and a twelve month high of $59.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. The firm has a market cap of $11.45 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.62. The firm’s 50-day simple moving average is $43.31 and its 200-day simple moving average is $42.28.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, November 15th. Magna International’s dividend payout ratio (DPR) is presently 50.80%.

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank grew its holdings in Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after acquiring an additional 18,704 shares during the period. Quantbot Technologies LP increased its holdings in Magna International by 12.5% in the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock valued at $6,128,000 after purchasing an additional 16,639 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 buying an additional 32,000 shares during the period. BNP Paribas Financial Markets boosted its holdings in Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after buying an additional 84,322 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Magna International by 135.5% during the 2nd 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 during the period. 67.49% of the stock is owned by institutional investors.

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.