Magna International Inc. to Issue Quarterly Dividend of $0.37 (NYSE:MGA)

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, November 8th, Zacks reports. Shareholders of record on Friday, November 22nd will be given a dividend of 0.365 per share on Friday, December 6th. This represents a $1.46 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, November 21st.

NYSE:MGA traded up $0.24 during trading hours on Tuesday, reaching $55.86. 12,702 shares of the stock were exchanged, compared to its average volume of 801,798. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $53.62 and a two-hundred day moving average of $49.87. Magna International has a twelve month low of $42.51 and a twelve month high of $57.09. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.56 and a beta of 1.57.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, November 8th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.03. Magna International had a return on equity of 17.59% and a net margin of 4.43%. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.32 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, research analysts forecast that Magna International will post 5.97 EPS for the current fiscal year.

MGA has been the topic of a number of research reports. Zacks Investment Research cut Magna International from a “hold” rating to a “sell” rating and set a $55.00 price target on the stock. in a research note on Monday, October 14th. ValuEngine raised Magna International from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. TD Securities upped their price objective on Magna International from $59.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Evercore ISI reaffirmed a “hold” rating and set a $52.00 price objective on shares of Magna International in a research report on Sunday, August 11th. Finally, Barclays cut their price objective on Magna International from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.88.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Dividend History for Magna International (NYSE:MGA)

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