Magna International, Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, August 11th, RTT News reports. Stockholders of record on Friday, September 1st will be paid a dividend of 0.275 per share on Friday, September 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.41%.
Magna International has raised its dividend by an average of 16.0% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Magna International has a payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Magna International to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 17.3%.
Shares of Magna International (NYSE MGA) opened at 45.62 on Friday. Magna International has a 12 month low of $36.77 and a 12 month high of $48.90. The stock has a market capitalization of $17.35 billion, a PE ratio of 8.34 and a beta of 1.44. The company’s 50 day moving average price is $47.13 and its 200 day moving average price is $44.33.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.47 by $0.01. The business had revenue of $9.68 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Magna International had a return on equity of 20.58% and a net margin of 5.76%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. Equities analysts anticipate that Magna International will post $5.76 earnings per share for the current fiscal year.
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MGA has been the subject of several research reports. Cormark raised Magna International from a “buy” rating to a “top pick” rating in a report on Tuesday, July 11th. Morgan Stanley reduced their price objective on Magna International from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, June 9th. Scotiabank lifted their price objective on Magna International from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, May 12th. Zacks Investment Research cut Magna International from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada lifted their price objective on Magna International from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $51.25.
Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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