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

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, November 1st,NASDAQ Dividends 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 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, November 15th.

Magna International has raised its dividend by an average of 4.8% annually 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 research analysts expect Magna International to earn $6.08 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 31.3%.

Magna International Stock Up 0.0 %

MGA opened at $44.19 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. Magna International has a fifty-two week low of $38.01 and a fifty-two week high of $60.32. The firm’s fifty day moving average is $41.56 and its 200 day moving average is $42.83. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.72 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter last year, the firm posted $1.46 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that Magna International will post 5.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. CIBC lowered their target price on shares of Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Scotiabank increased their price objective on shares of Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 4th. Royal Bank of Canada dropped their price objective on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on shares of Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.76.

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.