Magna International (TSE:MG) Reaches New 12-Month Low at $69.77

Shares of Magna International Inc. (TSE:MGGet Rating) (NYSE:MGA) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$69.77 and last traded at C$70.01, with a volume of 1651676 shares changing hands. The stock had previously closed at C$76.85.

Several research firms recently commented on MG. Citigroup cut their price target on Magna International from C$117.00 to C$101.00 and set a “buy” rating on the stock in a research note on Tuesday, April 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a C$72.00 target price on shares of Magna International in a report on Wednesday, June 1st. Credit Suisse Group reaffirmed an “overweight” rating and set a C$78.00 target price on shares of Magna International in a report on Monday, May 2nd. Raymond James raised Magna International to a “hold” rating and set a C$68.00 price objective for the company in a report on Wednesday, March 16th. Finally, Barclays reaffirmed a “hold” rating and set a C$82.00 price target on shares of Magna International in a research note on Tuesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$86.00.

The company has a quick ratio of 0.86, a current ratio of 1.30 and a debt-to-equity ratio of 43.80. The stock has a market capitalization of C$21.09 billion and a price-to-earnings ratio of 13.63. The company’s 50-day simple moving average is C$78.41 and its 200 day simple moving average is C$88.95.

Magna International (TSE:MGGet Rating) (NYSE:MGA) last issued its quarterly earnings results on Friday, April 29th. The company reported C$1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.40 by C$0.22. The business had revenue of C$12.21 billion during the quarter, compared to analyst estimates of C$11.20 billion. On average, equities analysts expect that Magna International Inc. will post 9.4299997 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 27th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, May 12th. Magna International’s dividend payout ratio (DPR) is currently 33.16%.

Magna International Company Profile (TSE:MG)

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

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