Magna International Inc. (TSE:MG) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a strong buy recommendation to the company.

MG has been the topic of several recent research reports. Veritas upgraded shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd.

Insider Buying and Selling

In related news, insider Tom Rucker Joerg sold 39,210 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the transaction, the insider directly owned 31,633 shares of the company’s stock, valued at approximately C$2,928,583.14. The trade was a 55.35% decrease in their position. Also, insider Eric Jon Wilds Wilds sold 34,672 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the completion of the transaction, the insider owned 38,756 shares of the company’s stock, valued at approximately C$3,538,810.36. This represents a 47.22% decrease in their position. Insiders have sold a total of 150,405 shares of company stock worth $13,505,134 in the last ninety days. 6.18% of the stock is owned by corporate insiders.

Magna International Trading Up 3.3%

TSE MG opened at C$95.89 on Friday. Magna International has a one year low of C$56.04 and a one year high of C$96.69. The company’s 50 day moving average price is C$90.89 and its 200 day moving average price is C$83.51. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22. The firm has a market capitalization of C$26.10 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 0.45 and a beta of 2.13.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. The firm had revenue of C$14.43 billion for the quarter. On average, sell-side analysts predict that Magna International will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

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

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.