Magna International (TSE:MG) Hits New 12-Month High – Time to Buy?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$96.51 and last traded at C$96.50, with a volume of 269547 shares changing hands. The stock had previously closed at C$92.85.

Analysts Set New Price Targets

MG has been the topic of several research analyst reports. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Magna International Trading Up 3.8%

The company has a 50 day simple moving average of C$90.68 and a two-hundred day simple moving average of C$83.35. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22. The firm has a market cap of C$26.23 billion, a PE ratio of 40.66, a P/E/G ratio of 0.45 and a beta of 2.13.

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

Magna International Dividend Announcement

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

Insiders Place Their Bets

In other Magna International news, insider Tom Rucker Joerg sold 39,210 shares of Magna International stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the completion of the sale, the insider directly owned 31,633 shares in the company, valued at C$2,928,583.14. This trade represents a 55.35% decrease in their ownership of the stock. Also, insider Eric Jon Wilds Wilds sold 34,672 shares of the business’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 represents a 47.22% decrease in their position. Over the last quarter, insiders have sold 150,405 shares of company stock worth $13,505,134. Corporate insiders own 6.18% of the company’s stock.

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.