Brokerages Set Magna International Inc. (TSE:MG) Price Target at C$61.00

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

A number of brokerages have weighed in on MG. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th.

Magna International Stock Performance

Shares of TSE MG opened at C$94.70 on Friday. The business has a fifty day simple moving average of C$83.26 and a 200 day simple moving average of C$78.33. 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 firm has a market capitalization of C$26.18 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 0.45 and a beta of 2.05. Magna International has a one year low of C$48.97 and a one year high of C$96.00.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The business had revenue of C$14.43 billion during the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. Sell-side analysts expect that Magna International will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 29th were given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio is 82.28%.

Insider Buying and Selling at Magna International

In other Magna International news, 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 value of C$1,706,028.72. Following the sale, the insider directly owned 30,470 shares in the company, valued at C$2,634,436.20. This represents a 39.31% decrease in their ownership of the stock. Also, 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 value of C$3,165,900.32. Following the completion of the sale, the insider owned 38,756 shares in the company, valued at C$3,538,810.36. This trade represents a 47.22% decrease in their ownership of the stock. Insiders have sold 111,195 shares of company stock worth $9,875,072 over the last three months. Company insiders own 6.18% of the company’s stock.

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.