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Magna International (NYSE:MGA)’s share price reached a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report, Stock Ratings News reports. The stock traded as high as $112.85 and last traded at $111.58, with a volume of 361,005 shares changing hands. The stock had previously closed at $111.44.

The company reported $2.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.10. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the company posted $1.78 earnings per share. Magna International’s revenue was up 5.6% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, August 27th.

A number of analysts have recently weighed in on MGA shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Magna International in a research note on Monday. They now have a $102.00 price target on the stock, up previously from $98.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Magna International in a research note on Monday. They now have a $117.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Magna International from $116.00 to $120.00 in a research note on Monday. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $110.00.

The stock has a 50-day moving average of $109.1 and a 200-day moving average of $99.27. The company has a market cap of $24.335 billion and a price-to-earnings ratio of 16.03.

Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.

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