Magna International Inc. (MGA) to Issue Quarterly Dividend of $0.48 on November 29th

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, November 1st,NASDAQ Dividends 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 4.30%. The ex-dividend date is Friday, November 15th.

Magna International has raised its dividend by an average of 4.8% per year over the last three years. Magna International has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Magna International to earn $6.08 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 31.3%.

Magna International Price Performance

Shares of NYSE MGA opened at $44.18 on Wednesday. The stock’s 50-day simple moving average is $41.51 and its 200-day simple moving average is $42.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. The firm has a market capitalization of $12.69 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.72 and a beta of 1.59. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same period in the previous year, the company posted $1.46 earnings per share. Magna International’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Magna International will post 5.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on MGA. Morgan Stanley cut Magna International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. BMO Capital Markets reduced their price objective on Magna International from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group decreased their target price on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Raymond James lowered their price objective on Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.76.

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.