Magna International (TSE:MG) Raised to Hold at Wolfe Research

Wolfe Research upgraded shares of Magna International (TSE:MG - Free Report) NYSE: MGA from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Royal Bank of Canada downgraded Magna International from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 13th.

Magna International Trading Down 0.2 %

Shares of MG traded down C$0.15 during trading hours on Thursday, hitting C$64.10. 1,050,105 shares of the stock were exchanged, compared to its average volume of 1,265,244. The firm has a market capitalization of C$18.42 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a current ratio of 1.12 and a quick ratio of 0.83. Magna International has a fifty-two week low of C$51.79 and a fifty-two week high of C$79.98. The business has a 50-day moving average of C$59.35 and a 200-day moving average of C$58.60.

Magna International Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Friday, November 15th. 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.