Magna International (TSE:MG) Hits New 52-Week Low at $62.90

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$62.90 and last traded at C$64.70, with a volume of 342433 shares. The stock had previously closed at C$66.20.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada dropped their price target on Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th.

Magna International Trading Down 3.5 %

The company has a debt-to-equity ratio of 58.83, a quick ratio of 0.83 and a current ratio of 1.06. The company has a market cap of C$18.35 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68. The company’s 50 day moving average price is C$70.93 and its 200 day moving average price is C$73.13.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 9th. The company reported C$1.81 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.18). The firm had revenue of C$14.23 billion for the quarter, compared to analyst estimates of C$14.30 billion. Magna International had a return on equity of 10.89% and a net margin of 2.83%. Research analysts anticipate that Magna International Inc. will post 8.2060185 EPS for the current year.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.638 per share. This represents a $2.55 dividend on an annualized basis and a yield of 3.99%. This is a boost from Magna International’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 22nd. Magna International’s dividend payout ratio (DPR) is currently 44.76%.

Insiders Place Their Bets

In other news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. In other Magna International news, Senior Officer Bruce Cluney sold 9,292 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$54.15, for a total value of C$503,164.59. Also, Director Seetarama Swamy Kotagiri sold 20,906 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. Over the last three months, insiders sold 34,844 shares of company stock valued at $1,887,403. Insiders own 6.10% 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.