Magna International (TSE:MG) Upgraded by Royal Bank of Canada to “Moderate Buy” Rating

Royal Bank of Canada upgraded shares of Magna International (TSE:MG) (NYSE:MGA) from a hold rating to a moderate buy rating in a research note published on Friday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wolfe Research upgraded Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th. The Goldman Sachs Group lowered shares of Magna International from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 11th.

Magna International Price Performance

Shares of Magna International stock opened at C$59.00 on Friday. The firm has a market cap of C$16.95 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The firm’s 50-day simple moving average is C$60.96 and its 200-day simple moving average is C$58.58. Magna International has a twelve month low of C$51.79 and a twelve month high of C$79.98. 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 (TSE:MG) (NYSE:MGA) last released its quarterly earnings data on Friday, November 1st. The company reported C$1.75 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.03 by C($0.28). Magna International had a net margin of 2.29% and a return on equity of 9.03%. During the same period last year, the company earned $1.96 EPS. As a group, research analysts expect that Magna International will post 8.8948171 EPS for the current fiscal year.

Magna International Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, November 15th. Magna International’s payout ratio is currently 54.01%.

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.