Magna International (TSE:MG) Shares Down 0.2% - Here's Why

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA traded down 0.2% on Thursday . The company traded as low as C$64.21 and last traded at C$64.25. 1,620,541 shares were traded during mid-day trading, an increase of 28% from the average session volume of 1,266,155 shares. The stock had previously closed at C$64.41.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wolfe Research upgraded Magna International from a "strong sell" rating to a "hold" rating in a research note on Thursday. Royal Bank of Canada cut Magna International from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 13th.

Magna International Stock Performance

The firm has a 50 day moving average of C$59.35 and a two-hundred day moving average of C$58.60. The stock has a market cap of C$18.38 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a quick ratio of 0.83 and a current ratio of 1.12.

Magna International Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 29th were given a dividend of $0.475 per share. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 2.97%. Magna International's dividend payout ratio (DPR) is presently 54.01%.

Magna International Company Profile

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.