Magna International (TSE:MG) Posts Earnings Results

Magna International (TSE:MG) (NYSE:MGA) announced its quarterly earnings data on Friday. The company reported C$2.61 earnings per share (EPS) for the quarter, reports. The company had revenue of C$14.32 billion during the quarter. Magna International had a net margin of 1.77% and a return on equity of 6.15%.

Magna International Trading Down 1.6%

Shares of Magna International stock opened at C$88.91 on Friday. The stock has a market capitalization of C$23.79 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 0.45 and a beta of 2.02. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 55.07. The company has a 50-day simple moving average of C$91.24 and a 200 day simple moving average of C$87.09. Magna International has a 12-month low of C$63.89 and a 12-month high of C$101.10.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 27th will be issued a $0.4950 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. Magna International’s dividend payout ratio is presently 72.06%.

Insider Buying and Selling

In other Magna International news, insider Bruce Cluney sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of C$95.22, for a total value of C$476,100.00. Following the transaction, the insider directly owned 40,239 shares in the company, valued at C$3,831,557.58. The trade was a 11.05% decrease in their ownership of the stock. 6.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MG has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce cut shares of Magna International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. BMO Capital Markets downgraded Magna International from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

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 Asia. With operations in 28 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.