Magna International (TSE:MG) Hits New 1-Year Low – Here’s What Happened

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$43.78 and last traded at C$44.60, with a volume of 56523 shares trading hands. The stock had previously closed at C$46.22.

Analyst Ratings Changes

MG has been the subject of a number of recent analyst reports. Royal Bank of Canada raised shares of Magna International from a “hold” rating to a “moderate buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group cut Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th.

Magna International Stock Down 2.8 %

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 firm has a market capitalization of C$9.09 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The business’s 50-day moving average price is C$53.50 and its 200-day moving average price is C$57.25.

Magna International Increases Dividend

The company also recently disclosed 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 represents a $1.94 annualized dividend and a dividend yield of 4.32%. This is a positive change from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, February 28th. Magna International’s dividend payout ratio (DPR) is currently 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.