Magna International (TSE:MG) Reaches New 12-Month High – What’s Next?

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) hit a new 52-week high during trading on Tuesday . The company traded as high as C$97.15 and last traded at C$97.05, with a volume of 154999 shares traded. The stock had previously closed at C$94.83.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Veritas raised Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Magna International presently has a consensus rating of “Buy”.

Magna International Trading Up 3.1%

The company has a debt-to-equity ratio of 56.24, a current ratio of 1.22 and a quick ratio of 0.83. The company’s 50 day moving average is C$91.62 and its two-hundred day moving average is C$84.03. The firm has a market cap of C$26.60 billion, a P/E ratio of 41.24, a PEG ratio of 0.45 and a beta of 2.13.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. The firm had revenue of C$14.43 billion for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. On average, sell-side analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is presently 82.28%.

Insider Transactions at Magna International

In related news, insider Tom Rucker Joerg sold 39,210 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total value of C$3,630,061.80. Following the completion of the transaction, the insider directly owned 31,633 shares in the company, valued at approximately C$2,928,583.14. This represents a 55.35% decrease in their ownership of the stock. Also, insider Eric Jon Wilds Wilds sold 34,672 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the completion of the transaction, the insider directly owned 38,756 shares of the company’s stock, valued at approximately C$3,538,810.36. This trade represents a 47.22% decrease in their ownership of the stock. In the last ninety days, insiders have sold 150,405 shares of company stock valued at $13,505,134. Company insiders own 6.18% of the company’s stock.

Magna International Company Profile

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.