Magna International, Inc. (NYSE:MGA) (TSE:MG)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $52.50 and last traded at $52.48, with a volume of 659,198 shares changing hands. The stock had previously closed at $52.14.

Several equities analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, August 14th. Cormark upgraded shares of Magna International from a “buy” rating to a “top pick” rating in a research report on Tuesday, July 11th. Morgan Stanley dropped their target price on shares of Magna International from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 16th. Finally, ValuEngine cut shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $53.20.

The stock has a 50-day moving average price of $47.98 and a 200-day moving average price of $45.15. The company has a market capitalization of $19.61 billion, a price-to-earnings ratio of 9.58 and a beta of 1.43.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.50 billion. Magna International had a net margin of 5.73% and a return on equity of 20.01%. Magna International’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. On average, equities analysts anticipate that Magna International, Inc. will post $5.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Wednesday, August 30th. Magna International’s dividend payout ratio is currently 19.86%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in Magna International by 34.8% in the second quarter. Russell Investments Group Ltd. now owns 2,020,359 shares of the company’s stock valued at $93,453,000 after purchasing an additional 521,929 shares in the last quarter. DnB Asset Management AS raised its stake in Magna International by 1.8% in the second quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after purchasing an additional 27,384 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Magna International by 2.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,173,053 shares of the company’s stock valued at $54,242,000 after purchasing an additional 26,742 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in Magna International by 2,712.5% in the second quarter. Cardinal Capital Management Inc. now owns 987,200 shares of the company’s stock valued at $45,676,000 after purchasing an additional 952,100 shares in the last quarter. Finally, US Bancorp DE raised its stake in Magna International by 9.6% in the second quarter. US Bancorp DE now owns 922,553 shares of the company’s stock valued at $42,742,000 after purchasing an additional 80,773 shares in the last quarter. 59.46% of the stock is currently owned by institutional investors and hedge funds.

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About Magna International

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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