Shares of Magna International Inc. (TSE:MG) jumped past their 200-day moving average in Thursday trading,peaking at C$92.05 before closing at C$91.66. The 200-day average is C$79.40,showing upward momentum. Trading was busy,1,594,135 shares moving on Toronto Stock Exchange.
Analysts are bullish on Magna . Canadian Imperial Bank of Commerce upgraded it to “strong-buy” February 18. Veritas followed May 4 with same rating,and Scotiabank did so April 23 . Four analysts now say "strong buy",two say "hold". Consensus is "buy" with average price target of C$61.00.
Financially, Magna posted C$1.92 per share for quarter ending May 1. Revenue hit C$14.43 billion, net margin at 1.59%, return on equity 5.43%. Analysts see EPS around 8.89 this year . Market cap stands at C$24.95 billion,price-to-earnings ratio 38.68, PEG ratio 0.45 .
On liquidity,current ratio is 1.22,quick ratio 0.83. Debt-to-equity ratio is 56.24. Its 50-day simple moving average is C$85.17,indicating short-term strength.
Beyond stock, Magna declared quarterly dividend of $0.495 per share,paid May 29 to shareholders of record May 15 . Dividend yields 2.2%,annual payout $1.98, payout ratio 82.28%.
Insider trades caught eyes too . May 27,insider Eric Jon Wilds sold 34,672 shares at C$91.31,totaling ~C$3.17 million. Wilds now holds 38,756 shares,valued ~C$3.54 million, a 47.22% cut in ownership. June 2,insider Tom Rucker Joerg sold 39,210 shares at C$92.58, ~C$3.63 million, reducing holdings by 55.35% to 31,633 shares worth ~C$2.93 million. Insiders sold 150,405 shares in three months,worth C$13.51 million,with insiders holding 6.18% of stock.
Magna, among largest automotive suppliers,operates in key markets: North America,Europe,China. With nearly seven decades' experience,it pushes innovative vehicle systems,focusing on performance,safety,quality. But what comes next…
