Magna International (TSE:MG) Reaches New 12-Month Low - Here's What Happened

Shares of Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA reached a new 52-week low during trading on Monday . The company traded as low as C$50.96 and last traded at C$51.15, with a volume of 1421351 shares. The stock had previously closed at C$52.69.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MG. The Goldman Sachs Group lowered shares of Magna International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 11th. Wolfe Research raised Magna International from a "strong sell" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada upgraded Magna International from a "hold" rating to a "moderate buy" rating in a report on Friday, January 24th.

Magna International Stock Up 6.2 %

The company's 50 day moving average is C$56.93 and its 200 day moving average is C$57.86. The company has a market cap of C$10.62 billion, a PE ratio of 9.86, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Magna International's previous quarterly dividend of $0.48. Magna International's payout ratio is currently 48.07%.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.