Magna International (TSE:MG) Releases Quarterly Earnings Results

Magna International (TSE:MG) (NYSE:MGA) issued its earnings results on Friday. The company reported C$1.92 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$14.43 billion during the quarter. Magna International had a return on equity of 6.73% and a net margin of 1.97%.

Magna International Price Performance

Shares of Magna International stock traded down C$3.77 during trading on Friday, reaching C$82.68. The company’s stock had a trading volume of 1,057,454 shares, compared to its average volume of 1,432,222. The stock has a 50-day moving average price of C$80.46 and a two-hundred day moving average price of C$74.88. The stock has a market capitalization of C$22.86 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 0.45 and a beta of 1.91. The company has a current ratio of 1.25, a quick ratio of 0.83 and a debt-to-equity ratio of 66.74. Magna International has a one year low of C$44.85 and a one year high of C$95.18.

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 15th. Magna International’s payout ratio is currently 66.21%.

Analyst Ratings Changes

Several analysts recently commented on the company. Canadian Imperial Bank of Commerce raised Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$61.00.

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.