Magna International (TSE:MG) Hits New 12-Month High – Here’s Why

Magna International Inc. (TSE:MG) (NYSE:MGA) reached a new 52-week high during trading on Wednesday . The company traded as high as C$79.72 and last traded at C$79.12, with a volume of 47279 shares trading hands. The stock had previously closed at C$79.10.

Analysts Set New Price Targets

MG has been the topic of a number of recent analyst reports. Citigroup raised Magna International to a “hold” rating in a research note on Friday, October 10th. BMO Capital Markets upgraded shares of Magna International to a “strong-buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$61.00.

Magna International Stock Down 1.1%

The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The stock has a 50-day simple moving average of C$71.93 and a two-hundred day simple moving average of C$65.33. The firm has a market cap of C$21.86 billion, a PE ratio of 21.25, a P/E/G ratio of 0.45 and a beta of 1.93.

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

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 28th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.94 annualized dividend and a dividend yield of 2.5%. Magna International’s dividend payout ratio (DPR) is 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.