Magna International (TSE:MG) Issues Earnings Results

Magna International (TSE:MG) (NYSE:MGA) released its earnings results on Friday. The company reported C$2.64 earnings per share (EPS) for the quarter, FiscalAI reports. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$15.60 billion during the quarter.

Magna International Trading Down 1.8%

Shares of Magna International stock opened at C$96.14 on Friday. Magna International has a 12-month low of C$56.04 and a 12-month high of C$98.85. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 56.24. The business’s 50 day moving average is C$92.57 and its 200-day moving average is C$84.52. The stock has a market cap of C$26.17 billion, a P/E ratio of 40.57, a P/E/G ratio of 0.45 and a beta of 2.13.

Magna International Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MG shares. Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Magna International has a consensus rating of “Buy”.

Insider Activity

In other news, insider Eric Jon Wilds Wilds sold 34,672 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the sale, the insider directly 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. Also, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of Magna International stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$86.46, for a total value of C$1,706,028.72. Following the transaction, the insider owned 30,470 shares of the company’s stock, valued at C$2,634,436.20. The trade was a 39.31% decrease in their position. Over the last three months, insiders sold 150,405 shares of company stock valued at $13,505,134. 6.18% of the stock is owned by insiders.

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.