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

Magna International Inc. (NYSE:MGA) (TSE:MG) announced a quarterly dividend on Friday, November 1st, NASDAQ reports. Investors of record on Friday, November 15th will be given a dividend of 0.475 per share on Friday, November 29th. This represents a $1.90 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Friday, November 15th.

Magna International has raised its dividend by an average of 4.8% per year over the last three years. Magna International has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Magna International to earn $6.22 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 30.5%.

Magna International Price Performance

NYSE MGA opened at $41.97 on Friday. The company has a market cap of $12.06 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.66 and a beta of 1.59. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a fifty day simple moving average of $41.34 and a 200 day simple moving average of $43.18. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. Magna International’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. On average, sell-side analysts predict that Magna International will post 5.4 EPS for the current year.

Analysts Set New Price Targets

MGA has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Magna International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their target price on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. UBS Group cut their target price on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Evercore dropped their price objective on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Finally, Raymond James dropped their price objective on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.65.

Magna International Company Profile

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.