Key Points
- Insider sale: Eric Jon Wilds Wilds sold 34,672 shares of Magna International at an average price of C$91.31, totaling about C$3.17 million. After the sale, he still held 38,756 shares, a 47.22% reduction in his ownership.
- Dividend update: Magna announced a quarterly dividend of C$0.495 per share, payable on May 29 to shareholders of record on May 29. That works out to an annualized dividend of C$1.98 and a yield of about 2.2%.
- Analyst sentiment remains positive: Several firms recently upgraded Magna, including CIBC, Veritas, and Scotiabank, and the stock now has a consensus Buy rating. MarketBeat also notes a consensus target price of C$61.00.
Magna International Inc. (TSE:MG - Get Free Report) (NYSE:MGA) insider Eric Jon Wilds Wilds sold 34,672 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following 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 ownership of the stock.
Magna International Stock Down 0.7%
Shares of Magna International stock opened at C$91.15 on Friday. The company's fifty day simple moving average is C$81.73 and its two-hundred day simple moving average is C$77.70. The company has a market cap of C$25.20 billion, a P/E ratio of 38.46, a PEG ratio of 0.45 and a beta of 2.05. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. Magna International Inc. has a 12-month low of C$48.50 and a 12-month high of C$95.18.
Magna International (TSE:MG - Get Free Report) (NYSE:MGA) last released its earnings results on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. The firm had revenue of C$14.43 billion for the quarter. Research analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current year.
Magna International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.495 per share. The ex-dividend date is Friday, May 15th. This represents a $1.98 annualized dividend and a yield of 2.2%. Magna International's dividend payout ratio is currently 82.28%.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Canadian Imperial Bank of Commerce upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Veritas upgraded shares of Magna International to a "strong-buy" rating in a research note on Monday, May 4th. Finally, Scotiabank upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$61.00.
Check Out Our Latest Stock Report on MG
About Magna International
(
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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.
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