Magna International (TSE:MG) Releases Earnings Results

Magna International (TSE:MG) (NYSE:MGA) announced its quarterly earnings data on Friday. The company reported C$2.64 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$15.60 billion during the quarter. Magna International had a return on equity of 6.15% and a net margin of 1.77%.

Magna International Stock Performance

Shares of MG stock opened at C$96.14 on Friday. The business’s 50-day moving average price is C$92.57 and its 200-day moving average price is C$84.52. Magna International has a 12 month low of C$56.04 and a 12 month high of C$98.85. The firm has a market capitalization of C$26.17 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 0.45 and a beta of 2.13. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 15.82.

Magna International Dividend Announcement

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

Insider Transactions at Magna International

In other news, insider John Hugh Farrell sold 31,523 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of C$89.41, for a total value of C$2,818,471.43. Following the completion of the transaction, the insider owned 50,020 shares of the company’s stock, valued at C$4,472,288.20. This represents a 38.66% decrease in their ownership of the stock. Also, insider Tom Rucker Joerg sold 39,210 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 31,633 shares of the company’s stock, valued at approximately C$2,928,583.14. This trade represents a 55.35% decrease in their position. Over the last ninety days, insiders sold 150,405 shares of company stock worth $13,505,134. 6.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on MG shares. Veritas raised Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Four investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

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.