Magna International (TSE:MG) Sets New 1-Year High – Here’s Why

Magna International Inc. (TSE:MG) (NYSE:MGA) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$72.84 and last traded at C$72.66, with a volume of 915343 shares. The stock had previously closed at C$72.11.

Analyst Upgrades and Downgrades

Several research firms have weighed in 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 issued a Hold rating to the company. According to data from MarketBeat, Magna International currently has an average rating of “Hold” and an average target price of C$61.00.

Magna International Stock Up 1.8%

The company has a market cap of C$21.17 billion, a PE ratio of 20.58, a P/E/G ratio of 0.45 and a beta of 1.86. The firm has a 50-day simple moving average of C$67.46 and a two-hundred day simple moving average of C$61.90. 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 posted its quarterly earnings data on Friday, October 31st. The company reported C$1.33 EPS for the quarter. The business had revenue of C$14.57 billion for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%. Research analysts anticipate that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 28th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is currently 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.