Magna International Inc. (NYSE:MGA) Declares Quarterly Dividend of $0.49

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, February 14th, NASDAQ Dividends reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.485 per share on Friday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48.

Magna International has increased its dividend payment by an average of 3.4% per year over the last three years. Magna International has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Magna International to earn $6.66 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 29.1%.

Magna International Stock Performance

Shares of Magna International stock opened at $38.23 on Wednesday. The firm’s fifty day simple moving average is $40.23 and its 200-day simple moving average is $41.57. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.63 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. During the same period last year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Magna International will post 5.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MGA shares. Raymond James dropped their target price on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, February 18th. Scotiabank dropped their price target on Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and decreased their target price for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Barclays dropped their price objective on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company cut their target price on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.88.

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.