Magna International Inc. (NYSE:MGA) Increases Dividend to $0.49 Per Share

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG announced a quarterly dividend on Friday, February 14th,NASDAQ Dividends reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.485 per share on Friday, March 14th. This represents a $1.94 annualized dividend and a yield of 5.07%. The ex-dividend date is Friday, February 28th. This is an increase from Magna International's previous quarterly dividend of $0.48.

Magna International has increased its dividend by an average of 3.4% annually over the last three years. Magna International has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Magna International to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 27.1%.

Magna International Trading Up 0.4 %

Shares of MGA stock traded up $0.15 during mid-day trading on Wednesday, reaching $38.24. The company's stock had a trading volume of 1,030,317 shares, compared to its average volume of 1,730,340. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $10.82 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.59 and a beta of 1.61. The company's 50 day simple moving average is $40.99 and its 200-day simple moving average is $41.61. Magna International has a 12-month low of $35.05 and a 12-month high of $56.12.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 12.71% and a net margin of 2.36%. The company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same period last year, the company posted $1.33 earnings per share. The firm's revenue was up 1.7% compared to the same quarter last year. On average, research analysts predict that Magna International will post 6.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on MGA shares. UBS Group lowered their price objective on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price target on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. Raymond James cut their price objective on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a report on Tuesday. Scotiabank decreased their price objective on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada dropped their target price on Magna International from $52.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $48.88.

About Magna International

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.