Key Points
- Insider sale: Tom Rucker Joerg sold 39,210 shares of Magna International on June 2 at an average price of C$92.58, totaling about C$3.63 million. After the transaction, his ownership fell by 55.35% to 31,633 shares.
- Stock and fundamentals: Magna opened at C$94.71 and has traded near its 52-week high of C$96.00, with a market cap of C$26.18 billion. The company reported C$1.92 EPS on quarterly revenue of C$14.43 billion.
- Dividend and analyst view: Magna recently paid a quarterly dividend of C$0.495 per share, or C$1.98 annualized, for a yield of 2.1%. Analysts are broadly positive, with a consensus Buy rating and an average target price of C$61.00.
Magna International Inc. (TSE:MG - Get Free Report) (NYSE:MGA) insider Tom Rucker Joerg sold 39,210 shares of Magna International stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total value 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 represents a 55.35% decrease in their ownership of the stock.
Magna International Trading Up 0.0%
TSE MG opened at C$94.71 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 56.24. Magna International Inc. has a twelve month low of C$48.97 and a twelve month high of C$96.00. The firm has a market capitalization of C$26.18 billion, a PE ratio of 39.96, a P/E/G ratio of 0.45 and a beta of 2.05. The stock's 50 day moving average is C$83.64 and its 200 day moving average is C$78.51.
Magna International (TSE:MG - Get Free Report) (NYSE:MGA) last released 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 company had revenue of C$14.43 billion for the quarter. Research analysts forecast that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.
Magna International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were given a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. Magna International's payout ratio is currently 82.28%.
Wall Street Analyst Weigh In
MG has been the topic of several research reports. Veritas upgraded Magna International to a "strong-buy" rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce upgraded Magna International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Finally, Scotiabank upgraded Magna International from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$61.00.
View Our Latest Stock Analysis on Magna International
Magna International Company Profile
(
Get Free Report)
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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