Magna International Hits New 52-Week High at $83.72 (MGA)
Shares of Magna International (NYSE:MGA) hit a new 52-week high during trading on Monday, StockRatingsNetwork reports. The stock traded as high as $83.72 and last traded at $83.32, with a volume of 412,961 shares trading hands. The stock had previously closed at $82.05.
A number of analysts have recently weighed in on MGA shares. Analysts at Thomson Reuters/Verus downgraded shares of Magna International (NYSE:MGA) from a “hold” rating to a “sell” rating in a research note to investors on Monday, August 19th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Magna International (NYSE:MGA) in a research note to investors on Monday, August 12th. They now have a $84.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Magna International (NYSE:MGA) from $67.00 to $72.00 in a research note to investors on Monday, August 12th. They now have a “hold” rating on the stock.
One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $70.50.
Magna International has a one year low of $42.60 and a one year high of $83.72. The stock’s 50-day moving average is $79.25 and its 200-day moving average is $67.74. The company has a market cap of $19.039 billion and a price-to-earnings ratio of 12.62.
Magna International (NYSE:MGA) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.14. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts expect that Magna International will post $6.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, August 28th.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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