Magna International Reaches New 12-Month High at $114.40 (MGA)
Magna International (NYSE:MGA) hit a new 52-week high on Thursday , AmericanBankingNews.com reports. The company traded as high as $114.40 and last traded at $113.72, with a volume of 116,000 shares trading hands. The stock had previously closed at $114.06.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Magna International in a research note on Wednesday, August 13th. They set an “outperform” rating and a $128.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Magna International in a research note on Tuesday, August 12th. They now have a $120.00 price target on the stock, up previously from $107.00. Finally, analysts at KeyCorp reiterated a “buy” rating on shares of Magna International in a research note on Monday, August 11th. They now have a $130.00 price target on the stock, up previously from $115.00. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $113.29.
The stock’s 50-day moving average is $110.2 and its 200-day moving average is $100.8. The company has a market cap of $24.098 billion and a price-to-earnings ratio of 15.24.
Magna International (NYSE:MGA) last posted its quarterly earnings results on Friday, August 8th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Magna International will post $8.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, August 27th.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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