Brokerages Set Magna International Inc. (TSE:MG) PT at C$61.00

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) have received an average rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$61.00.

Several brokerages have recently issued reports on MG. Scotiabank upgraded shares of 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 note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th.

Magna International Trading Down 2.7%

Shares of MG stock opened at C$92.13 on Friday. Magna International has a 12 month low of C$49.65 and a 12 month high of C$96.00. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 56.24. The business’s 50 day moving average is C$83.94 and its two-hundred day moving average is C$78.61. The company has a market cap of C$25.08 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 0.45 and a beta of 2.19.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, May 1st. The company reported C$1.92 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. Equities analysts predict that Magna International will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. Magna International’s dividend payout ratio (DPR) is presently 82.28%.

Insider Activity at Magna International

In other news, insider Eric Jon Wilds Wilds sold 34,672 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the sale, the insider owned 38,756 shares in the company, valued at approximately C$3,538,810.36. This trade represents a 47.22% decrease in their ownership of the stock. Also, insider John Hugh Farrell sold 31,523 shares of the firm’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 in the company, valued at approximately C$4,472,288.20. The trade was a 38.66% decrease in their position. In the last three months, insiders have sold 150,405 shares of company stock worth $13,505,134. Insiders own 6.18% of the company’s stock.

Magna International Company Profile

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.