Magna International Inc. Declares Quarterly Dividend of $0.48 (NYSE:MGA)

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG announced a quarterly dividend on Friday, November 1st, NASDAQ reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.475 per share on Friday, November 29th. This represents a $1.90 annualized dividend and a yield of 4.53%. The ex-dividend date is Friday, November 15th.

Magna International has increased its dividend payment by an average of 4.8% per year over the last three years. Magna International has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Magna International to earn $6.22 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 30.5%.

Magna International Stock Performance

Shares of MGA traded up $2.50 during trading hours on Friday, hitting $41.97. The company's stock had a trading volume of 2,886,528 shares, compared to its average volume of 1,588,298. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.66 and a beta of 1.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The business has a 50 day simple moving average of $41.36 and a two-hundred day simple moving average of $43.23. Magna International has a 52-week low of $38.01 and a 52-week high of $60.32.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the firm earned $1.50 EPS. The company's revenue was down .2% compared to the same quarter last year. On average, equities analysts expect that Magna International will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

MGA has been the topic of a number of analyst reports. Raymond James decreased their price objective on Magna International from $57.00 to $53.00 and set a "market perform" rating on the stock in a research note on Tuesday, August 6th. UBS Group lowered their price target on shares of Magna International from $51.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. The Goldman Sachs Group decreased their target price on shares of Magna International from $44.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, October 1st. Citigroup lowered their target price on shares of Magna International from $52.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, July 12th. Finally, TD Securities reduced their price target on shares of Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Magna International currently has a consensus rating of "Hold" and an average price target of $49.65.

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.

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