Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, May 24th will be paid a dividend of 0.489 per share on Friday, June 7th. This represents a $1.96 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from Magna International’s previous quarterly dividend of $0.48.
TSE MG traded down C$0.17 during trading hours on Friday, hitting C$59.87. 780,100 shares of the company’s stock were exchanged, compared to its average volume of 925,618. Magna International has a 1-year low of C$58.74 and a 1-year high of C$87.13. The stock has a market capitalization of $19.37 billion and a P/E ratio of 7.40. The company has a debt-to-equity ratio of 44.04, a current ratio of 1.22 and a quick ratio of 0.84.
Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 22nd. The company reported C$2.15 EPS for the quarter, topping the consensus estimate of C$2.13 by C$0.02. The business had revenue of C$13.40 billion for the quarter, compared to analyst estimates of C$13.45 billion. Equities analysts expect that Magna International will post 7.19000010829732 earnings per share for the current year.
Several research firms recently commented on MG. Seaport Global Securities reaffirmed a “buy” rating on shares of Magna International in a research note on Tuesday, April 16th. CIBC raised their target price on Magna International from C$60.00 to C$63.00 in a research note on Monday, February 25th. BMO Capital Markets cut Magna International from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. cut Magna International from a “neutral” rating to an “underweight” rating and raised their target price for the stock from C$66.00 to C$67.00 in a research note on Monday, February 25th.
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Magna International Company Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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