Magna International (TSE:MG) Releases Earnings Results

Magna International (TSE:MG) (NYSE:MGA) posted its quarterly earnings data on Friday. The company reported C$2.61 EPS for the quarter, reports. Magna International had a return on equity of 6.15% and a net margin of 1.77%. The company had revenue of C$14.32 billion during the quarter.

Magna International Trading Down 1.7%

Shares of MG stock traded down C$1.55 during mid-day trading on Friday, reaching C$88.76. The company’s stock had a trading volume of 370,852 shares, compared to its average volume of 1,273,568. Magna International has a 12-month low of C$63.89 and a 12-month high of C$101.10. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 55.07. The firm has a market capitalization of C$23.75 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 0.45 and a beta of 2.02. The company’s 50 day simple moving average is C$91.40 and its 200-day simple moving average is C$87.04.

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were given a dividend of $0.4950 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 annualized dividend and a yield of 2.2%. Magna International’s dividend payout ratio is 72.06%.

Insider Buying and Selling at Magna International

In related news, insider Bruce Cluney sold 5,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total value of C$476,100.00. Following the completion of the transaction, the insider owned 40,239 shares in the company, valued at C$3,831,557.58. This trade represents a 11.05% decrease in their position. Corporate insiders own 6.18% of the company’s stock.

Wall Street Analysts Forecast Growth

MG has been the subject of a number of recent analyst reports. BMO Capital Markets cut shares of Magna International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 17th. Canadian Imperial Bank of Commerce downgraded shares of Magna International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

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 Asia. With operations in 28 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.