Magna International (TSE:MG) Issues Quarterly Earnings Results

Magna International (TSE:MG) (NYSE:MGA) released its earnings results on Friday. The company reported C$1.92 earnings per share for the quarter, FiscalAI reports. Magna International had a net margin of 1.97% and a return on equity of 6.73%. The firm had revenue of C$14.43 billion during the quarter.

Magna International Stock Down 4.4%

Magna International stock opened at C$82.68 on Friday. The company has a 50-day simple moving average of C$80.46 and a 200-day simple moving average of C$74.88. The firm has a market capitalization of C$22.86 billion, a P/E ratio of 28.22, a P/E/G ratio of 0.45 and a beta of 1.91. The company has a debt-to-equity ratio of 66.74, a quick ratio of 0.83 and a current ratio of 1.25. Magna International has a one year low of C$44.85 and a one year high of C$95.18.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.495 per share. The ex-dividend date is Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.4%. Magna International’s dividend payout ratio is currently 66.21%.

Analysts Set New Price Targets

Several analysts have weighed in on MG shares. Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$61.00.

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.