Magna International (TSE:MG) Hits New 12-Month High – Should You Buy?

Magna International Inc. (TSE:MG) (NYSE:MGA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$97.15 and last traded at C$97.05, with a volume of 154999 shares traded. The stock had previously closed at C$94.83.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Veritas upgraded shares of Magna International to a “strong-buy” rating in a 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Magna International Price Performance

The firm has a market cap of C$26.72 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 0.45 and a beta of 2.13. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22. The business has a 50 day simple moving average of C$92.21 and a 200-day simple moving average of C$84.30.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings data on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The firm had revenue of C$14.43 billion during the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. Equities research analysts expect that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were issued a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a yield of 2.0%. Magna International’s dividend payout ratio is 82.28%.

Insider Buying and Selling

In other Magna International news, insider Tom Rucker Joerg sold 39,210 shares of Magna International stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the transaction, the insider directly 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. Also, insider John Hugh Farrell sold 31,523 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of C$89.41, for a total transaction of C$2,818,471.43. Following the completion of the sale, the insider owned 50,020 shares of the company’s stock, valued at approximately C$4,472,288.20. The trade was a 38.66% decrease in their position. Over the last quarter, insiders sold 150,405 shares of company stock valued at $13,505,134. 6.18% of the stock is owned by corporate insiders.

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.