Magna International Inc. (NYSE:MGA) Declares Quarterly Dividend of $0.48

Magna International Inc. (NYSE:MGA) (TSE:MG) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.475 per share on Friday, May 31st. This represents a $1.90 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th.

Magna International has increased its dividend by an average of 4.8% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Magna International has a dividend payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Magna International to earn $7.38 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 25.7%.

Magna International Trading Down 3.6 %

Shares of NYSE:MGA traded down $1.72 on Friday, hitting $46.70. The company had a trading volume of 3,988,059 shares, compared to its average volume of 1,676,348. The firm’s 50-day simple moving average is $52.00 and its two-hundred day simple moving average is $53.92. Magna International has a 1 year low of $46.11 and a 1 year high of $65.27. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $13.42 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.49 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.18). The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities analysts anticipate that Magna International will post 6.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MGA shares. Wells Fargo & Company reduced their price objective on shares of Magna International from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a research note on Thursday. CIBC reduced their price objective on shares of Magna International from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Barclays reduced their price target on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Finally, UBS Group lifted their price target on shares of Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.50.

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.