Magna International (TSE:MG) Trading Down 4.9% – Here’s What Happened

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price fell 4.9% during mid-day trading on Thursday . The company traded as low as C$51.12 and last traded at C$51.12. 63,008 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,659,405 shares. The stock had previously closed at C$53.77.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research raised shares of Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th. The Goldman Sachs Group lowered Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a research report on Friday, January 24th.

Magna International Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The company’s fifty day moving average is C$54.88 and its 200 day moving average is C$57.55. The stock has a market cap of C$10.07 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60.

Magna International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were issued a dividend of $0.485 per share. This is a positive change from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 3.90%. Magna International’s payout ratio is presently 48.07%.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.