Magna International (TSE:MG) Reaches New 52-Week High – Still a Buy?

Magna International Inc. (TSE:MG) (NYSE:MGA) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$99.06 and last traded at C$98.27, with a volume of 917384 shares trading hands. The stock had previously closed at C$96.14.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Veritas raised Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Magna International currently has an average rating of “Strong Buy”.

Magna International Price Performance

The stock has a market cap of C$26.29 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 0.45 and a beta of 2.11. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 15.82. The company’s fifty day moving average is C$93.03 and its 200 day moving average is C$84.98.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Friday, July 31st. The company reported C$2.64 EPS for the quarter. The business had revenue of C$15.60 billion for the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%. As a group, sell-side analysts anticipate that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th will be issued a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a yield of 2.1%. Magna International’s dividend payout ratio is currently 72.06%.

Insider Buying and Selling

In other news, insider John Hugh Farrell sold 31,523 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total value of C$2,818,471.43. Following the completion of the sale, the insider owned 50,020 shares of the company’s stock, valued at approximately C$4,472,288.20. The trade was a 38.66% decrease in their position. Also, insider Bruce Cluney sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total transaction of C$476,100.00. Following the transaction, the insider directly owned 40,239 shares in the company, valued at C$3,831,557.58. The trade was a 11.05% decrease in their position. Insiders sold a total of 155,405 shares of company stock worth $13,981,234 over the last 90 days. 6.18% of the stock is currently owned by corporate 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.