Magna International Inc. (TSE:MG – Get Free Report) (NYSE:MGA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$79.40 and traded as high as C$92.05. Magna International shares last traded at C$91.66, with a volume of 1,594,135 shares changing hands.
Analyst Ratings Changes
A number of brokerages have recently issued reports on MG. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, 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. Four analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$61.00.
Read Our Latest Stock Analysis on Magna International
Magna International Stock Up 1.7%
Magna International (TSE:MG – Get Free Report) (NYSE:MGA) last announced its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$14.43 billion during the quarter. On average, research analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.
Magna International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 29th were given a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a yield of 2.1%. Magna International’s payout ratio is presently 82.28%.
Insider Buying and Selling
In other Magna International news, insider Eric Jon Wilds Wilds sold 34,672 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 approximately C$3,538,810.36. The trade was a 47.22% decrease in their ownership of the stock. Also, insider Tom Rucker Joerg sold 39,210 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total value of C$3,630,061.80. Following the completion of the sale, the insider owned 31,633 shares of the company’s stock, valued at C$2,928,583.14. The trade was a 55.35% decrease in their position. Over the last ninety days, insiders have sold 150,405 shares of company stock worth $13,505,134. Company 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.
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