Magna International Inc. (MGA) To Go Ex-Dividend on February 28th

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 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48.

Magna International has increased its dividend by an average of 3.4% annually over the last three years. Magna International has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.3 %

MGA opened at $38.23 on Wednesday. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 0.63 and a beta of 1.61. The company’s 50 day simple moving average is $40.23 and its two-hundred day simple moving average is $41.57. Magna International has a 1-year low of $35.05 and a 1-year 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.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGA has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Raymond James cut their target price on Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, February 18th. Finally, TD Securities decreased their price target on Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus target price of $48.88.

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.