Magna International Inc. (TSE:MG – Get Free Report) (NYSE:MGA) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$52.06 and last traded at C$52.16, with a volume of 100705 shares. The stock had previously closed at C$53.86.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Wolfe Research upgraded Magna International to a “strong sell” rating in a research report on Thursday, September 5th. BNP Paribas upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 1st. Finally, Royal Bank of Canada downgraded shares of Magna International from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th.
Check Out Our Latest Report on MG
Magna International Stock Down 3.0 %
Magna International (TSE:MG – Get Free Report) (NYSE:MGA) last released its quarterly earnings data on Friday, August 2nd. The company reported C$1.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.14). The business had revenue of C$14.99 billion during the quarter, compared to the consensus estimate of C$15.22 billion. Magna International had a net margin of 2.29% and a return on equity of 9.03%. As a group, research analysts forecast that Magna International Inc. will post 7.5019868 EPS for the current year.
Magna International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.65 dividend. This is an increase from Magna International’s previous quarterly dividend of $0.64. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Friday, August 16th. Magna International’s payout ratio is 56.16%.
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.
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