Magna International (TSE:MG) Posts Earnings Results

Magna International (TSE:MG) (NYSE:MGA) announced its earnings results on Friday. The company reported C$2.64 earnings per share for the quarter, FiscalAI reports. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$15.60 billion for the quarter.

Magna International Stock Performance

MG traded down C$1.77 during trading on Friday, reaching C$96.14. 911,531 shares of the company’s stock were exchanged, compared to its average volume of 1,324,904. The company has a debt-to-equity ratio of 56.24, a current ratio of 1.22 and a quick ratio of 0.83. Magna International has a 1 year low of C$56.04 and a 1 year high of C$98.85. The company’s fifty day simple moving average is C$92.43 and its 200-day simple moving average is C$84.44. The stock has a market capitalization of C$26.17 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 0.45 and a beta of 2.13.

Magna International Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Magna International

In other Magna International news, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$86.46, for a total value of C$1,706,028.72. Following the sale, the insider directly owned 30,470 shares of the company’s stock, valued at approximately C$2,634,436.20. This represents a 39.31% decrease in their ownership of the stock. Also, insider John Hugh Farrell sold 31,523 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total transaction of C$2,818,471.43. Following the completion of the sale, the insider directly owned 50,020 shares in the company, valued at approximately C$4,472,288.20. The trade was a 38.66% decrease in their ownership of the stock. Insiders sold 150,405 shares of company stock valued at $13,505,134 over the last quarter. 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.