Magna International (TSE:MG) Reaches New 12-Month High – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$97.15 and last traded at C$97.05, with a volume of 154999 shares traded. The stock had previously closed at C$94.83.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MG. Scotiabank raised 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 report on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Magna International Price Performance

The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22. The firm has a market cap of C$26.60 billion, a P/E ratio of 41.24, a P/E/G ratio of 0.45 and a beta of 2.13. The company has a 50-day moving average of C$91.62 and a 200 day moving average of C$84.03.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$14.43 billion for the quarter. On average, sell-side analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 15th. Magna International’s payout ratio is currently 82.28%.

Insider Activity

In related news, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$86.46, for a total transaction of C$1,706,028.72. Following the completion of the sale, the insider owned 30,470 shares in the company, valued at C$2,634,436.20. This trade represents a 39.31% decrease in their position. Also, insider Tom Rucker Joerg sold 39,210 shares of Magna International stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the transaction, the insider directly owned 31,633 shares of the company’s stock, valued at C$2,928,583.14. This represents a 55.35% decrease in their ownership of the stock. Insiders have sold a total of 150,405 shares of company stock worth $13,505,134 over the last 90 days. 6.18% of the stock is currently owned by company insiders.

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.