Magna International (TSE:MG) Sets New 1-Year High – Here’s Why

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$76.30 and last traded at C$76.11, with a volume of 54616 shares changing hands. The stock had previously closed at C$75.02.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup raised Magna International to a “hold” rating in a research note on Friday, October 10th. BMO Capital Markets raised Magna International to a “strong-buy” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$61.00.

Magna International Stock Up 3.4%

The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. The firm’s 50-day moving average price is C$70.39 and its 200 day moving average price is C$64.21. The firm has a market capitalization of C$22.07 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 0.45 and a beta of 1.93.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Friday, October 31st. The company reported C$1.33 EPS for the quarter. The firm had revenue of C$14.57 billion for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%. Sell-side analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 28th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is currently 52.88%.

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.