Key Points
- Insider Bruce Cluney sold 5,000 Magna International shares at an average price of C$95.22, generating proceeds of C$476,100 and reducing his position by 11.05% to 40,239 shares.
- Magna reported quarterly revenue of C$15.60 billion and earnings of C$2.64 per share, while its stock traded near a one-year high with a market capitalization of C$27.78 billion.
- The company declared a quarterly dividend of C$0.495 per share, equivalent to an annualized C$1.98 dividend and a 2.0% yield; analysts collectively rated the stock “Strong Buy.”
Magna International Inc. (TSE:MG - Get Free Report) (NYSE:MGA) insider Bruce Cluney sold 5,000 shares of Magna International stock in a transaction on Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total transaction of C$476,100.00. Following the transaction, the insider owned 40,239 shares in the company, valued at C$3,831,557.58. This represents a 11.05% decrease in their position.
Magna International Trading Up 1.9%
TSE:MG opened at C$100.49 on Thursday. The company has a debt-to-equity ratio of 15.82, a current ratio of 1.22 and a quick ratio of 0.83. The firm has a market capitalization of C$27.78 billion, a price-to-earnings ratio of 36.94, a price-to-earnings-growth ratio of 0.45 and a beta of 2.11. Magna International Inc. has a one year low of C$57.31 and a one year high of C$101.10. The business has a fifty day moving average price of C$93.03 and a 200-day moving average price of C$84.98.
Magna International (TSE:MG - Get Free Report) (NYSE:MGA) last released its earnings results on Friday, July 31st. The company reported C$2.64 earnings per share for the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%.The company had revenue of C$15.60 billion for the quarter. Sell-side analysts forecast that Magna International Inc. will post 8.8948171 EPS for the current year.
Magna International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 28th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 14th. Magna International's payout ratio is presently 72.06%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Scotiabank raised shares of Magna International from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. Veritas upgraded shares of Magna International to a "strong-buy" rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Magna International presently has an average rating of "Strong Buy".
View Our Latest Stock Report on Magna International
Magna International Company Profile
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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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