Magna International (TSE:MG) Sets New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

A number of brokerages recently commented on MG. BMO Capital Markets upgraded Magna International to a “strong-buy” rating in a research report on Monday, November 3rd. Citigroup upgraded shares of Magna International to a “hold” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$61.00.

Magna International Price Performance

The firm has a 50-day simple moving average of C$71.60 and a 200 day simple moving average of C$65.14. The firm has a market cap of C$22.22 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.45 and a beta of 1.93. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, October 31st. The company reported C$1.33 earnings per share for the quarter. The business 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%. As a group, equities analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 28th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 2.5%. Magna International’s payout ratio is presently 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.