Magna International Inc. (TSE:MG) Given Consensus Rating of “Buy” by Brokerages

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) have been given a consensus recommendation of “Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$61.00.

Several analysts recently commented on the stock. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th.

Magna International Stock Down 2.0%

Shares of TSE:MG opened at C$89.35 on Friday. The firm has a 50 day simple moving average of C$82.03 and a 200-day simple moving average of C$77.78. Magna International has a twelve month low of C$48.50 and a twelve month high of C$95.18. The company has a market capitalization of C$24.70 billion, a PE ratio of 37.70, a P/E/G ratio of 0.45 and a beta of 2.05. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24.

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

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were given a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a yield of 2.2%. Magna International’s dividend payout ratio is 82.28%.

Insider Activity at Magna International

In other Magna International news, insider Eric Jon Wilds Wilds sold 34,672 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the completion of the transaction, the insider owned 38,756 shares in the company, valued at approximately C$3,538,810.36. This represents a 47.22% decrease in their position. Also, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$86.46, for a total transaction of C$1,706,028.72. Following the transaction, the insider owned 30,470 shares of the company’s stock, valued at approximately C$2,634,436.20. The trade was a 39.31% decrease in their position. Insiders sold a total of 111,195 shares of company stock worth $9,875,072 in the last 90 days. 6.18% of the stock is owned by insiders.

Magna International Company Profile

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.