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

Magna International Inc. (TSE:MG) (NYSE:MGA) shares hit a new 52-week high on Thursday . The company traded as high as C$71.57 and last traded at C$71.33, with a volume of 233157 shares trading hands. The stock had previously closed at C$70.56.

Analyst Upgrades and Downgrades

MG has been the topic of a number of research analyst reports. Citigroup raised shares of 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 research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$61.00.

Magna International Stock Up 1.1%

The firm has a market cap of C$20.10 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 0.45 and a beta of 1.86. 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 business has a 50-day moving average price of C$66.67 and a two-hundred day moving average price of C$61.03.

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

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 28th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio is presently 52.88%.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.