Magna International (TSE:MG) Reaches New 1-Year High – Still a Buy?

Magna International Inc. (TSE:MG) (NYSE:MGA) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$96.51 and last traded at C$96.50, with a volume of 269547 shares changing hands. The stock had previously closed at C$92.85.

Wall Street Analyst Weigh In

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

Magna International Stock Performance

The company’s 50-day moving average price is C$91.08 and its 200 day moving average price is C$83.67. The stock has a market capitalization of C$25.89 billion, a PE ratio of 40.14, a PEG ratio of 0.45 and a beta of 2.13. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22.

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

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were given a $0.495 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. Magna International’s dividend payout ratio is currently 82.28%.

Insider Transactions at Magna International

In related news, insider Eric Jon Wilds Wilds sold 34,672 shares of Magna International stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the sale, the insider directly owned 38,756 shares in the company, valued at C$3,538,810.36. The trade was a 47.22% decrease in their ownership of the stock. Also, insider John Hugh Farrell sold 31,523 shares of Magna International stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total value of C$2,818,471.43. Following the sale, the insider owned 50,020 shares in the company, valued at C$4,472,288.20. This represents a 38.66% decrease in their ownership of the stock. In the last quarter, insiders have sold 150,405 shares of company stock worth $13,505,134. 6.18% of the stock is owned by company insiders.

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.