Magna International (TSE:MG) Hits New 12-Month High - What's Next?

Key Points

• Magna International reached a new 52-week high, trading as high as C$99.06 and closing near C$98.27, up 2.6% on the day.
• Analyst sentiment is strongly bullish: Scotiabank and Veritas upgraded the stock to “Strong Buy,” giving Magna a consensus “Strong Buy” rating from five analysts.
• Magna reported quarterly EPS of C$2.64 on C$15.60 billion in revenue and announced a quarterly dividend of C$0.495, implying a 2.0% annual yield; insiders have sold roughly 150,405 shares over the past three months.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA's stock price hit a new 52-week high on Tuesday . The stock traded as high as C$99.06 and last traded at C$98.27, with a volume of 917384 shares changing hands. The stock had previously closed at C$96.14.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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 Magna International to a "strong-buy" rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Magna International Trading Up 2.6%

The company has a market cap of C$27.27 billion, a PE ratio of 36.27, a PEG ratio of 0.45 and a beta of 2.13. The company has a debt-to-equity ratio of 15.82, a quick ratio of 0.83 and a current ratio of 1.22. The company has a 50 day simple moving average of C$92.68 and a two-hundred day simple moving average of C$84.68.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last announced its quarterly earnings data on Friday, July 31st. The company reported C$2.64 earnings per share (EPS) for the quarter. The business had revenue of C$15.60 billion for the quarter. Magna International had a net margin of 1.77% and a return on equity of 6.15%. Sell-side analysts forecast that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 2.0%. Magna International's payout ratio is presently 72.06%.

Insider Buying and Selling at Magna International

In related news, insider Eric Jon Wilds Wilds sold 34,672 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the completion of 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 position. Also, insider Uwe Paul-Ernst Geissinger sold 22,434 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$86.46, for a total value of C$1,939,643.64. Following the transaction, the insider directly owned 30,470 shares of the company's stock, valued at C$2,634,436.20. This trade represents a 42.41% decrease in their ownership of the stock. Insiders have sold 150,405 shares of company stock worth $13,505,134 in the last three months. 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.

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