Magna International (NYSE:MGA) Reaches New 52-Week High at $96.00

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $96.00 and last traded at $92.14, with a volume of 123084 shares traded. The stock had previously closed at $89.49.

Several research analysts recently issued reports on MGA shares. Credit Suisse Group increased their price target on shares of Magna International from $91.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company assumed coverage on shares of Magna International in a research note on Wednesday, March 31st. They issued an “equal weight” rating and a $96.00 price target for the company. Morgan Stanley upgraded shares of Magna International from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $61.00 to $96.00 in a research note on Wednesday. TD Securities raised their price objective on shares of Magna International from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, February 22nd. Finally, Raymond James raised their price objective on shares of Magna International from $61.50 to $85.00 and gave the company a “market perform” rating in a research note on Monday, February 22nd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Magna International presently has a consensus rating of “Buy” and an average price target of $81.33.

The business’s fifty day moving average price is $88.82 and its 200-day moving average price is $70.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.91 and a current ratio of 1.29. The stock has a market cap of $28.36 billion, a PE ratio of 63.91, a P/E/G ratio of 2.35 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Thursday, February 18th. The company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.80. The firm had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.22 billion. Magna International had a net margin of 1.46% and a return on equity of 7.31%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 EPS. Analysts forecast that Magna International Inc. will post 3.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Friday, March 5th were issued a $0.43 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, March 4th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.83%. Magna International’s dividend payout ratio (DPR) is presently 26.45%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FDx Advisors Inc. purchased a new position in shares of Magna International in the first quarter worth approximately $262,000. HighPoint Advisor Group LLC purchased a new position in shares of Magna International in the first quarter worth approximately $920,000. Valeo Financial Advisors LLC boosted its holdings in shares of Magna International by 692.7% in the first quarter. Valeo Financial Advisors LLC now owns 1,189 shares of the company’s stock worth $105,000 after buying an additional 1,039 shares during the last quarter. Carroll Financial Associates Inc. purchased a new position in Magna International during the first quarter valued at approximately $35,000. Finally, Zurich Insurance Group Ltd FI purchased a new position in Magna International during the fourth quarter valued at approximately $1,839,000. 59.46% of the stock is currently owned by institutional investors.

Magna International Company Profile (NYSE:MGA)

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

Further Reading: Earnings Per Share

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