Magna International (TSE:MG) Reaches New 12-Month Low at $62.90

Magna International Inc. (TSE:MG) (NYSE:MGA) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$62.90 and last traded at C$64.70, with a volume of 342433 shares. The stock had previously closed at C$66.20.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their target price on Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th.

Magna International Trading Down 3.5 %

The company has a 50 day moving average of C$70.74 and a 200 day moving average of C$73.08. The firm has a market cap of C$18.35 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 58.83.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings results on Friday, February 9th. The company reported C$1.81 EPS for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.18). The firm had revenue of C$14.23 billion during the quarter, compared to analyst estimates of C$14.30 billion. Magna International had a net margin of 2.83% and a return on equity of 10.89%. As a group, research analysts anticipate that Magna International Inc. will post 8.2060185 EPS for the current year.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.642 per share. This is an increase from Magna International’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. This represents a $2.57 annualized dividend and a yield of 4.02%. Magna International’s dividend payout ratio is 44.76%.

Insiders Place Their Bets

In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total value of C$1,128,476.61. In other news, Senior Officer Bruce Cluney sold 9,292 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$54.15, for a total value of C$503,164.59. Also, Director Seetarama Swamy Kotagiri sold 20,906 shares of Magna International stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. Over the last three months, insiders sold 34,844 shares of company stock valued at $1,887,403. Insiders own 6.10% of the company’s stock.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.