Magna International (TSE:MG) Lowered to “Hold” Rating by Royal Bank of Canada

Royal Bank of Canada downgraded shares of Magna International (TSE:MG) (NYSE:MGA) from a moderate buy rating to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.

Magna International Price Performance

Shares of Magna International stock opened at C$44.71 on Friday. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. The business has a 50 day simple moving average of C$51.77 and a two-hundred day simple moving average of C$56.76. The stock has a market capitalization of C$9.04 billion, a P/E ratio of 8.40, a PEG ratio of 0.45 and a beta of 1.60. Magna International has a 12 month low of C$43.25 and a 12 month high of C$69.87.

Magna International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a dividend of $0.485 per share. This is a boost from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, February 28th. This represents a $1.94 annualized dividend and a dividend yield of 4.34%. Magna International’s payout ratio is presently 48.07%.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.