Eric Jon Wilds Wilds Sells 34,672 Shares of Magna International (TSE:MG) Stock

Magna International Inc. (TSE:MG) (NYSE:MGA) insider Eric Jon Wilds Wilds sold 34,672 shares of Magna International stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 owned 38,756 shares of the company’s stock, valued at approximately C$3,538,810.36. The trade was a 47.22% decrease in their ownership of the stock.

Magna International Stock Down 2.0%

TSE:MG opened at C$89.35 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. The stock has a 50 day moving average of C$82.03 and a 200-day moving average of C$77.78. The firm has a market capitalization of C$24.70 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05. Magna International Inc. has a 52 week low of C$48.50 and a 52 week high of C$95.18.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The business had revenue of C$14.43 billion during the quarter. Analysts predict that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is 82.28%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MG shares. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Magna International presently has a consensus rating of “Buy” and an average target price of C$61.00.

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.