Magna International (TSE:MG) Sets New 12-Month High – Time to Buy?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$72.84 and last traded at C$72.66, with a volume of 915343 shares. The stock had previously closed at C$72.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MG shares. BMO Capital Markets upgraded shares of Magna International to a “strong-buy” rating in a report on Monday, November 3rd. Citigroup raised shares of Magna International to a “hold” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$61.00.

Magna International Trading Up 0.8%

The business has a 50 day moving average of C$67.02 and a 200-day moving average of C$61.73. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81. The firm has a market capitalization of C$20.48 billion, a P/E ratio of 19.91, a PEG ratio of 0.45 and a beta of 1.86.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, October 31st. The company reported C$1.33 earnings per share for the quarter. The firm had revenue of C$14.57 billion for the quarter. Magna International had a net margin of 2.52% and a return on equity of 9.11%. Analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 28th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 2.7%. Magna International’s dividend payout ratio is presently 52.88%.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.