Shares of Magna International Inc. (TSE:MG – Get Free Report) (NYSE:MGA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$81.83 and traded as high as C$91.99. Magna International shares last traded at C$88.81, with a volume of 1,399,028 shares.
Wall Street Analysts Forecast Growth
MG has been the topic of a number of research reports. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.
Check Out Our Latest Stock Analysis on MG
Magna International Stock Performance
Magna International (TSE:MG – Get Free Report) (NYSE:MGA) last released its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The company had revenue of C$14.43 billion for the quarter. Analysts predict that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.
Magna International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were given a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. Magna International’s dividend payout ratio is currently 82.28%.
Insider Activity
In other news, insider Tom Rucker Joerg sold 39,210 shares of the firm’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 transaction, the insider directly owned 31,633 shares in the company, valued at approximately C$2,928,583.14. This trade represents a 55.35% decrease in their ownership of the stock. Also, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$86.46, for a total transaction of C$1,706,028.72. Following the transaction, the insider directly owned 30,470 shares of the company’s stock, valued at approximately C$2,634,436.20. This represents a 39.31% decrease in their position. In the last three months, insiders sold 150,405 shares of company stock valued at $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.
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