Magna International (TSE:MG) Sets New 1-Year High – Here’s Why

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$99.06 and last traded at C$98.27, with a volume of 917384 shares changing hands. The stock had previously closed at C$96.14.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Magna International presently has an average rating of “Strong Buy”.

Magna International Stock Performance

The firm has a market cap of C$27.27 billion, a PE ratio of 36.27, a P/E/G ratio of 0.45 and a beta of 2.13. The firm has a 50-day moving average price of C$92.68 and a two-hundred day moving average price of C$84.68. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 15.82.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings data on Friday, July 31st. The company reported C$2.64 earnings per share for the quarter. Magna International had a net margin of 1.77% and a return on equity of 6.15%. The company had revenue of C$15.60 billion for the quarter. Research analysts forecast that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 28th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 annualized dividend and a dividend yield of 2.0%. Magna International’s dividend payout ratio (DPR) is presently 72.06%.

Insiders Place Their Bets

In other news, insider Eric Jon Wilds Wilds sold 34,672 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 38,756 shares in the company, valued at approximately C$3,538,810.36. The trade was a 47.22% decrease in their position. Also, insider Tom Rucker Joerg sold 39,210 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the sale, the insider owned 31,633 shares in the company, valued at C$2,928,583.14. This trade represents a 55.35% decrease in their ownership of the stock. Insiders have sold 150,405 shares of company stock valued at $13,505,134 in the last quarter. 6.18% of the stock is owned by 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.