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

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, November 1st, NASDAQ reports. Investors of record on Friday, November 15th will be paid 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 4.53%. The ex-dividend date is Friday, November 15th.

Magna International has increased its dividend by an average of 4.8% per year 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 $6.22 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 30.5%.

Magna International Stock Performance

Shares of NYSE MGA opened at $41.97 on Friday. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 0.63 and a beta of 1.59. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The stock’s 50-day moving average is $41.34 and its 200 day moving average is $43.18.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data 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). The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. On average, sell-side analysts anticipate that Magna International will post 5.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGA has been the topic of a number of research reports. Morgan Stanley cut Magna International from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $55.00 to $43.00 in a report on Wednesday, September 25th. UBS Group decreased their price target on Magna International from $51.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their price target on Magna International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. CIBC decreased their price target on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Wolfe Research reaffirmed an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $49.65.

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.